Insider Selling: Snap Inc. (NYSE:SNAP) SVP Sells $1,107,327.68 in Stock

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

Snap Trading Down 3.1 %

NYSE SNAP opened at $10.35 on Friday. The stock has a market cap of $17.55 billion, a P/E ratio of -24.63 and a beta of 0.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The stock has a 50 day simple moving average of $11.19 and a two-hundred day simple moving average of $10.75. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates 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, analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNAP has been the topic of several recent research reports. JMP Securities reiterated a “market outperform” rating and set a $16.00 price objective on shares of Snap in a research report on Monday, January 27th. BMO Capital Markets reiterated an “outperform” rating and set a $16.00 price objective (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Bank of America increased 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. Canaccord Genuity Group increased their price objective on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered 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 report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.87.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Checchi Capital Advisers LLC lifted its stake in shares of Snap by 3.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock valued at $335,000 after purchasing an additional 901 shares during the period. HCR Wealth Advisors lifted its stake in shares of Snap by 3.9% in the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock valued at $269,000 after purchasing an additional 934 shares during the period. Captrust Financial Advisors lifted its stake in shares of Snap by 8.0% in the 4th quarter. Captrust Financial Advisors now owns 13,918 shares of the company’s stock valued at $150,000 after purchasing an additional 1,030 shares during the period. The Manufacturers Life Insurance Company lifted its stake 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 purchasing an additional 1,033 shares during the period. Finally, Empowered Funds LLC lifted its stake 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 purchasing an additional 1,055 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.