Michael J. O’sullivan Sells 35,683 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 35,683 shares of Snap stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $11.90, for a total transaction of $424,627.70. Following the sale, the general counsel now owns 1,016,181 shares in the company, valued at approximately $12,092,553.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Snap Stock Up 2.1 %

Shares of SNAP stock traded up $0.25 on Monday, hitting $12.15. The stock had a trading volume of 14,544,627 shares, compared to its average volume of 28,033,219. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.50. The business has a 50 day moving average price of $9.65 and a 200 day moving average price of $10.21. The company has a market cap of $20.00 billion, a PE ratio of -14.19 and a beta of 1.20. Snap Inc. has a one year low of $7.86 and a one year high of $13.89.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 24th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.11 billion. Snap had a negative return on equity of 44.24% and a negative net margin of 29.99%. Research analysts anticipate that Snap Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of Snap

Several institutional investors and hedge funds have recently made changes to their positions in SNAP. Belpointe Asset Management LLC bought a new position in Snap in the third quarter worth about $2,582,000. Mercer Global Advisors Inc. ADV raised its holdings in Snap by 9.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 45,592 shares of the company’s stock worth $406,000 after purchasing an additional 3,939 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Snap by 101.7% in the third quarter. The Manufacturers Life Insurance Company now owns 62,711 shares of the company’s stock worth $559,000 after purchasing an additional 31,627 shares in the last quarter. GSA Capital Partners LLP bought a new position in Snap in the third quarter worth about $167,000. Finally, Alps Advisors Inc. raised its holdings in Snap by 29.7% in the third quarter. Alps Advisors Inc. now owns 72,585 shares of the company’s stock worth $647,000 after purchasing an additional 16,622 shares in the last quarter. 44.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Snap from $9.00 to $8.00 in a research report on Friday, October 6th. China Renaissance upgraded shares of Snap from a “sell” rating to a “hold” rating and set a $9.00 price target on the stock in a research report on Thursday, October 26th. UBS Group dropped their price objective on shares of Snap from $14.00 to $12.00 in a research note on Wednesday, July 26th. Piper Sandler lifted their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, Citigroup lifted their price objective on shares of Snap from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.52.

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.