Snap (NYSE:SNAP) CAO Sells $51,310.00 in Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 7,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $7.33, for a total transaction of $51,310.00. Following the completion of the sale, the chief accounting officer owned 490,054 shares in the company, valued at $3,592,095.82. This represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, December 17th, Rebecca Morrow sold 3,783 shares of Snap stock. The shares were sold at an average price of $7.34, for a total transaction of $27,767.22.
• On Tuesday, December 16th, Rebecca Morrow sold 3,090 shares of Snap stock. The stock was sold at an average price of $7.22, for a total transaction of $22,309.80.
• 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 transaction of $105,909.66.

Snap Stock Down 0.8%

Shares of NYSE SNAP opened at $7.57 on Friday. 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. The firm’s 50-day moving average price is $7.85 and its 200-day moving average price is $8.14. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of -26.10 and a beta of 0.85.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) EPS 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 company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the business posted ($0.09) EPS. The company’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SNAP has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on Snap from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Rosenblatt Securities increased their target price on shares of Snap from $8.70 to $9.50 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Morgan Stanley dropped their price target on shares of Snap from $8.50 to $8.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. UBS Group increased their price objective on shares of Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Finally, Cantor Fitzgerald raised their price objective on shares of Snap from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Three analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.88.

Institutional Investors Weigh In On Snap

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 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 worth $26,000 after acquiring an additional 1,852 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Snap by 92.3% in the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after purchasing an additional 1,581 shares during the period. Quarry LP bought a new position in Snap in the first quarter worth approximately $34,000. Itau Unibanco Holding S.A. purchased a new position in Snap during the 1st quarter worth $35,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Snap during the 3rd quarter worth $33,000. Institutional investors own 47.52% of the company’s stock.

About Snap

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.