Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 14,183 Shares

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 14,183 shares of the business’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 value of $125,235.89. Following the transaction, the general counsel now directly owns 2,256,101 shares in the company, valued at approximately $19,921,371.83. This represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Snap Trading Up 3.7 %

Shares of NYSE SNAP opened at $9.06 on Thursday. 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 stock has a market capitalization of $15.36 billion, a P/E ratio of -21.56 and a beta of 0.92. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33. The business has a fifty day moving average price of $10.56 and a 200 day moving average price of $10.80.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share 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%. Equities research analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Capital World Investors increased its position in Snap by 38.9% during the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after buying an additional 23,569,522 shares in the last quarter. SRS Investment Management LLC increased its position in Snap by 1.4% during the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock valued at $793,998,000 after buying an additional 1,001,632 shares in the last quarter. Capital International Investors acquired a new position in Snap during the 4th quarter valued at about $422,049,000. Geode Capital Management LLC increased its position in Snap by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock valued at $127,078,000 after buying an additional 134,017 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Snap by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company’s stock valued at $76,201,000 after buying an additional 828,285 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citizens Jmp downgraded Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Citigroup boosted their target price on Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 price objective on shares of Snap in a research report on Monday, January 27th. JPMorgan Chase & Co. cut their price objective on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Bank of America upped their price objective on Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. One 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.