Snap Inc. (SNAP) VP Steven Michael Horowitz Sells 286,332 Shares
Snap Inc. (NYSE:SNAP) VP Steven Michael Horowitz sold 286,332 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $12.54, for a total transaction of $3,590,603.28. Following the sale, the vice president now owns 2,532,598 shares in the company, valued at $31,758,778.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Snap Inc. (NYSE SNAP) opened at $12.41 on Tuesday. Snap Inc. has a fifty-two week low of $11.28 and a fifty-two week high of $29.44.
Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.17. The company had revenue of $207.90 million during the quarter, compared to analysts’ expectations of $236.71 million. The business’s revenue was up 62.2% on a year-over-year basis. equities research analysts anticipate that Snap Inc. will post -3.04 EPS for the current fiscal year.
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Several research analysts have recently issued reports on the company. Cleveland Research downgraded Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 25th. Vetr raised shares of Snap from a “sell” rating to a “hold” rating and set a $13.95 target price for the company in a research note on Tuesday, July 25th. Summit Redstone reissued a “sell” rating and issued a $10.00 target price (down previously from $17.00) on shares of Snap in a research note on Thursday, July 27th. Deutsche Bank AG reissued a “buy” rating and issued a $20.00 target price on shares of Snap in a research note on Wednesday, August 9th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $30.00 target price on shares of Snap in a research note on Wednesday, August 9th. Fifteen analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.12.
Several institutional investors have recently added to or reduced their stakes in SNAP. Bank of New York Mellon Corp purchased a new position in shares of Snap during the 1st quarter valued at approximately $525,000. Credit Suisse AG purchased a new position in shares of Snap during the 1st quarter valued at approximately $799,000. NN Investment Partners Holdings N.V. boosted its stake in shares of Snap by 6.3% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company’s stock valued at $754,000 after buying an additional 2,530 shares during the last quarter. Malaga Cove Capital LLC purchased a new position in shares of Snap during the 2nd quarter valued at approximately $324,000. Finally, Dubuque Bank & Trust Co. purchased a new position in shares of Snap during the 2nd quarter valued at approximately $137,000. Institutional investors own 19.35% of the company’s stock.
Snap Company Profile
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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