Investors sold shares of Snap Inc (NYSE:SNAP) on strength during trading hours on Wednesday following insider selling activity. $994.49 million flowed into the stock on the tick-up and $1,078.52 million flowed out of the stock on the tick-down, for a money net flow of $84.03 million out of the stock. Of all stocks tracked, Snap had the 0th highest net out-flow for the day. Snap traded up $6.69 for the day and closed at $20.75Specifically, Director Mitchell Lasky sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $12.53, for a total transaction of $313,250.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Steven Michael Horowitz sold 286,332 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $12.54, for a total value of $3,590,603.28. Following the transaction, the vice president now directly owns 2,532,598 shares in the company, valued at $31,758,778.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,885,626 shares of company stock worth $25,814,031.

Several research firms recently issued reports on SNAP. Susquehanna Bancshares downgraded Snap from a “neutral” rating to a “sell” rating in a research report on Thursday. Goldman Sachs Group reissued a “buy” rating and issued a $23.00 target price (up from $18.00) on shares of Snap in a research report on Thursday. Pivotal Research reissued a “sell” rating and issued a $10.00 target price on shares of Snap in a research report on Thursday. Aegis reissued a “hold” rating and issued a $18.00 target price (up from $13.00) on shares of Snap in a research report on Thursday. Finally, Vetr downgraded Snap from a “strong-buy” rating to a “buy” rating and set a $22.73 target price on the stock. in a research report on Thursday. Fourteen analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have issued a buy rating to the company. Snap has a consensus rating of “Hold” and an average target price of $18.25.

The stock has a market capitalization of $23,350.00 and a P/E ratio of -5.86.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.17. The firm had revenue of $207.90 million for the quarter, compared to analyst estimates of $236.71 million. Snap had a negative net margin of 417.61% and a negative return on equity of 97.08%. Snap’s quarterly revenue was up 62.2% compared to the same quarter last year. research analysts predict that Snap Inc will post -1.09 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of SNAP. First Manhattan Co. lifted its stake in Snap by 384.5% in the 3rd quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock valued at $110,000 after buying an additional 6,056 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Snap by 967.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,005 shares of the company’s stock valued at $116,000 after acquiring an additional 7,255 shares during the last quarter. WFG Advisors LP raised its holdings in Snap by 52.4% in the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock valued at $131,000 after acquiring an additional 2,537 shares during the last quarter. Nelson Roberts Investment Advisors LLC raised its holdings in Snap by 10,033.0% in the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 10,133 shares of the company’s stock valued at $147,000 after acquiring an additional 10,033 shares during the last quarter. Finally, Westwood Holdings Group Inc. acquired a new stake in Snap in the 2nd quarter valued at about $148,000. 18.97% of the stock is currently owned by hedge funds and other institutional investors.

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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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