Snap (NYSE:SNAP) CAO Sells $27,767.22 in Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 3,783 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $7.34, for a total value of $27,767.22. Following the completion of the transaction, the chief accounting officer owned 483,181 shares in the company, valued at approximately $3,546,548.54. The trade was a 0.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Rebecca Morrow also recently made the following trade(s):

• On Tuesday, December 16th, Rebecca Morrow sold 3,090 shares of Snap stock. The shares were sold at an average price of $7.22, for a total value of $22,309.80.
• On Monday, December 15th, Rebecca Morrow sold 7,000 shares of Snap stock. The stock was sold at an average price of $7.33, for a total value of $51,310.00.
• On Monday, November 17th, Rebecca Morrow sold 12,699 shares of Snap stock. The stock was sold at an average price of $8.34, for a total value of $105,909.66.

Snap Stock Performance

NYSE SNAP opened at $7.57 on Friday. The company has a market cap of $13.02 billion, a P/E ratio of -26.10 and a beta of 0.85. The company has a fifty day simple moving average of $7.85 and a 200 day simple moving average of $8.14. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 1.57. Snap Inc. has a 12-month low of $6.90 and a 12-month high of $13.28.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the company posted ($0.09) EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNAP has been the subject of a number of analyst reports. Citigroup lifted their price target on Snap from $8.50 to $10.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Rosenblatt Securities raised their target price on Snap from $8.70 to $9.50 and gave the company a “neutral” rating in a report on Thursday, November 6th. Stifel Nicolaus set a $7.00 target price on Snap in a research report on Thursday, November 6th. Morgan Stanley decreased their price target on Snap from $8.50 to $8.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Finally, Wells Fargo & Company raised their price objective on Snap from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.88.

Institutional Trading of Snap

A number of institutional investors and hedge funds have recently modified their holdings of SNAP. Allworth Financial LP lifted its holdings in Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after acquiring an additional 1,581 shares during the period. Signaturefd LLC grew its stake in Snap by 169.9% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock valued at $26,000 after purchasing an additional 1,852 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Snap during the 3rd quarter valued at $33,000. Quarry LP bought a new stake in shares of Snap during the 1st quarter worth $34,000. Finally, Itau Unibanco Holding S.A. bought a new position in Snap during the first quarter valued at about $35,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.