Snap Inc. (NYSE:SNAP) SVP Eric Young Sells 102,152 Shares

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 102,152 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the transaction, the senior vice president now owns 3,443,419 shares of the company’s stock, valued at $37,326,661.96. This trade represents a 2.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Snap Stock Down 1.0 %

NYSE SNAP traded down $0.11 during trading on Thursday, reaching $10.68. 15,947,716 shares of the company’s stock traded hands, compared to its average volume of 31,435,543. The company’s 50 day simple moving average is $11.21 and its two-hundred day simple moving average is $10.73. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.33. The firm has a market cap of $18.11 billion, a price-to-earnings ratio of -25.42 and a beta of 0.99.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, sell-side analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.

Institutional Trading of Snap

A number of institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after acquiring an additional 2,386,519 shares during the period. Aigen Investment Management LP purchased a new position in shares of Snap during the 3rd quarter valued at approximately $1,345,000. Invenomic Capital Management LP purchased a new stake in Snap in the 3rd quarter worth $2,349,000. Jacobs Levy Equity Management Inc. increased its holdings in Snap by 49.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock worth $28,245,000 after acquiring an additional 879,212 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Snap in the 3rd quarter worth $828,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 price objective on shares of Snap in a research report on Wednesday, October 30th. Truist Financial raised their target price on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. Susquehanna raised their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Evercore ISI raised their target price on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.87.

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.