Rebecca Morrow Sells 2,560 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 2,560 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $22,604.80. Following the completion of the sale, the chief accounting officer now directly owns 427,332 shares of the company’s stock, valued at approximately $3,773,341.56. This represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, February 18th, Rebecca Morrow sold 8,837 shares of Snap stock. The shares were sold at an average price of $10.84, for a total transaction of $95,793.08.

Snap Stock Up 3.7 %

Shares of SNAP stock opened at $9.06 on Thursday. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33. The firm’s fifty day moving average price is $10.56 and its two-hundred day moving average price is $10.80. The firm has a market capitalization of $15.36 billion, a P/E ratio of -21.56 and a beta of 0.92.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new position in shares of Snap during the 4th quarter worth about $27,000. Advisors Asset Management Inc. increased its stake in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Snap during the 4th quarter worth about $30,000. Comprehensive Financial Planning Inc. PA acquired a new position in Snap in the 4th quarter valued at about $32,000. Finally, Brooklyn Investment Group acquired a new position in Snap in the 3rd quarter valued at about $41,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNAP has been the topic of a number of recent research reports. Bank of America raised their price objective on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Citigroup raised their price objective on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Guggenheim cut shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. Wells Fargo & Company cut shares of Snap from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $15.00 to $11.00 in a research note on Wednesday, February 5th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $16.00 price target (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.87.

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.