Snap Inc. (NYSE:SNAP) CAO Sells $32,169.28 in Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 2,812 shares of Snap stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the transaction, the chief accounting officer now owns 430,252 shares of the company’s stock, valued at $4,922,082.88. The trade was a 0.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rebecca Morrow also recently made the following trade(s):

• On Tuesday, December 10th, Rebecca Morrow sold 32,000 shares of Snap stock. The stock was sold at an average price of $12.42, for a total transaction of $397,440.00.
• On Monday, November 18th, Rebecca Morrow sold 11,154 shares of Snap stock. The shares were sold at an average price of $10.55, for a total transaction of $117,674.70.

Snap Stock Performance

NYSE SNAP opened at $11.40 on Friday. The firm has a market cap of $19.12 billion, a price-to-earnings ratio of -19.65 and a beta of 0.97. The company has a 50-day simple moving average of $11.41 and a two-hundred day simple moving average of $11.95. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.75.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company earned ($0.21) EPS. Snap’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities analysts forecast that Snap Inc. will post -0.4 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial lifted their price target on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Snap in a research report on Friday, October 25th. Roth Mkm restated a “neutral” rating and issued a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. Stifel Nicolaus decreased their target price on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 target price on shares of Snap in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.10.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Snap by 354.1% in the second 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. Kiley Juergens Wealth Management LLC purchased a new position in shares of Snap during the second quarter valued at approximately $213,000. Destiny Wealth Partners LLC bought a new position in shares of Snap during the second quarter valued at approximately $3,506,000. Bank of New York Mellon Corp lifted its stake in Snap by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 1,558,268 shares of the company’s stock worth $25,883,000 after acquiring an additional 27,673 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Snap by 368.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 155,723 shares of the company’s stock valued at $2,587,000 after acquiring an additional 122,511 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Company Profile

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.