Snap Inc. (NYSE:SNAP) CAO Sells $22,844.11 in Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 2,459 shares of Snap stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $22,844.11. Following the completion of the transaction, the chief accounting officer now directly owns 476,218 shares in the company, valued at $4,424,065.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, August 16th, Rebecca Morrow sold 8,923 shares of Snap stock. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30.

Snap Price Performance

Shares of NYSE SNAP opened at $10.06 on Friday. The company has a market capitalization of $16.69 billion, a PE ratio of -12.42 and a beta of 1.00. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The stock’s 50 day moving average price is $10.58 and its 200-day moving average price is $12.81. Snap Inc. has a twelve month low of $8.28 and a twelve month high of $17.90.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. On average, equities analysts anticipate that Snap Inc. will post -0.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Morgan Stanley upgraded Snap from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $12.00 to $16.00 in a report on Tuesday, July 23rd. B. Riley assumed coverage on Snap in a research note on Friday. They issued a “neutral” rating and a $11.00 price target on the stock. Argus raised shares of Snap to a “hold” rating in a research report on Thursday, August 8th. Finally, Wolfe Research started coverage on shares of Snap in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.76.

Institutional Trading of Snap

A number of large investors have recently added to or reduced their stakes in SNAP. Hollencrest Capital Management purchased a new position in Snap in the second quarter valued at about $33,000. Blue Trust Inc. lifted its stake in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares during the last quarter. Rothschild Investment LLC bought a new position in Snap during the second quarter valued at $40,000. J.Safra Asset Management Corp increased its position in Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock worth $46,000 after buying an additional 2,330 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in shares of Snap during the 1st quarter valued at $100,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.