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 company’s stock in a transaction dated 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 in the company, valued at $3,773,341.56. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Down 2.9 %

Snap stock traded down $0.27 during midday trading on Tuesday, hitting $8.73. 25,157,896 shares of the stock were exchanged, compared to its average volume of 25,410,531. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33. The firm has a market cap of $14.80 billion, a P/E ratio of -20.77 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The company has a 50 day moving average price of $10.56 and a two-hundred day moving average price of $10.80.

Snap (NYSE:SNAP) last released 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 return on equity of 25.67% and a negative net margin of 13.02%. On average, sell-side analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC grew its holdings in Snap by 3.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock worth $335,000 after acquiring an additional 901 shares in the last quarter. HCR Wealth Advisors grew its holdings in Snap by 3.9% during the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock worth $269,000 after acquiring an additional 934 shares in the last quarter. Captrust Financial Advisors grew its holdings in Snap by 8.0% during the 4th quarter. Captrust Financial Advisors now owns 13,918 shares of the company’s stock worth $150,000 after acquiring an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Snap by 1.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock valued at $661,000 after buying an additional 1,033 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock valued at $384,000 after buying an additional 1,055 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNAP has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 5th. Barclays reissued an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Bank of America upped 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. Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company downgraded 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. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.