Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 12,315 Shares

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 12,315 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.54, for a total value of $129,800.10. Following the transaction, the general counsel now directly owns 1,195,567 shares of the company’s stock, valued at $12,601,276.18. This represents a 1.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Snap Price Performance

Shares of NYSE:SNAP opened at $10.60 on Thursday. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.90. The firm has a fifty day moving average price of $10.79 and a 200 day moving average price of $12.55. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the firm posted ($0.21) EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities analysts expect that Snap Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of Snap

Large investors have recently modified their holdings of the company. Hollencrest Capital Management acquired a new position in Snap during the 2nd quarter worth $33,000. Blue Trust Inc. lifted its position in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the last quarter. Rothschild Investment LLC bought a new stake in Snap during the 2nd quarter valued at approximately $40,000. V Square Quantitative Management LLC bought a new position in Snap in the 3rd quarter worth approximately $29,000. Finally, Paladin Wealth LLC acquired a new position in shares of Snap during the third quarter worth approximately $30,000. 47.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on SNAP. Hsbc Global Res downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Citigroup decreased their target price on Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Canaccord Genuity Group increased their price target on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Loop Capital lifted their price target on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, UBS Group upped their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and an average price target of $14.31.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.