Eric Young Sells 50,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $10.54, for a total value of $527,000.00. Following the completion of the sale, the senior vice president now owns 752,110 shares in the company, valued at approximately $7,927,239.40. This represents a 6.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Eric Young also recently made the following trade(s):

• On Monday, November 18th, Eric Young sold 112,020 shares of Snap stock. The stock was sold at an average price of $10.55, for a total value of $1,181,811.00.

Snap Price Performance

NYSE:SNAP traded up $0.78 during mid-day trading on Friday, reaching $11.42. 39,143,138 shares of the stock were exchanged, compared to its average volume of 27,773,207. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The business has a fifty day moving average price of $10.82 and a 200 day moving average price of $12.54. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.90. The firm has a market capitalization of $19.15 billion, a PE ratio of -19.66 and a beta of 0.99.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNAP. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $14.00 target price on shares of Snap in a report on Wednesday, September 18th. Argus raised Snap to a “hold” rating in a research report on Thursday, August 8th. Cantor Fitzgerald upped their price objective on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial lifted their price objective on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus cut their price objective on shares of Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.31.

Hedge Funds Weigh In On Snap

A number of hedge funds have recently modified their holdings of the stock. GraniteShares Advisors LLC lifted its position in shares of Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after acquiring an additional 941 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Snap by 4.0% in the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after purchasing an additional 1,048 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of Snap by 6.9% during the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after buying an additional 1,255 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Snap by 1.9% during the third quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock valued at $830,000 after buying an additional 1,433 shares in the last quarter. Finally, DMC Group LLC raised its position in Snap by 10.5% during the second quarter. DMC Group LLC now owns 15,583 shares of the company’s stock valued at $259,000 after buying an additional 1,477 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.