Insider Selling: Snap Inc (SNAP) Insider Sells 250,000 Shares of Stock
Snap Inc (NYSE:SNAP) insider Imran Khan sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $20.04, for a total value of $5,010,000.00. Following the completion of the transaction, the insider now directly owns 9,755,173 shares of the company’s stock, valued at $195,493,666.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Imran Khan also recently made the following trade(s):
- On Tuesday, December 5th, Imran Khan sold 100,000 shares of Snap stock. The stock was sold at an average price of $15.00, for a total value of $1,500,000.00.
- On Wednesday, November 15th, Imran Khan sold 150,000 shares of Snap stock. The stock was sold at an average price of $12.46, for a total value of $1,869,000.00.
Shares of Snap Inc (NYSE:SNAP) traded down $0.59 during trading hours on Friday, reaching $18.80. The company’s stock had a trading volume of 49,995,398 shares, compared to its average volume of 27,590,000. The stock has a market cap of $22,640.00 and a PE ratio of -5.68. Snap Inc has a 12 month low of $11.28 and a 12 month high of $29.44.
A number of large investors have recently modified their holdings of SNAP. Bank of New York Mellon Corp grew its holdings in Snap by 57.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,643 shares of the company’s stock valued at $651,000 after buying an additional 13,336 shares in the last quarter. Prudential Financial Inc. grew its holdings in Snap by 41.2% in the 2nd quarter. Prudential Financial Inc. now owns 16,800 shares of the company’s stock valued at $299,000 after buying an additional 4,900 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Snap in the 2nd quarter valued at $278,000. UBS Asset Management Americas Inc. acquired a new position in shares of Snap in the 2nd quarter valued at $196,000. Finally, Northern Trust Corp lifted its stake in shares of Snap by 1,633.4% in the 2nd quarter. Northern Trust Corp now owns 240,695 shares of the company’s stock valued at $4,277,000 after purchasing an additional 226,809 shares during the last quarter. Institutional investors own 18.97% of the company’s stock.
Several research analysts have recently weighed in on SNAP shares. Vetr raised Snap from a “hold” rating to a “strong-buy” rating and set a $18.29 target price for the company in a research note on Thursday, October 19th. Morgan Stanley downgraded Snap from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 9th. Zacks Investment Research downgraded Snap from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. BidaskClub downgraded Snap from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $18.00 target price on shares of Snap in a research note on Tuesday, January 9th. Fourteen analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have issued a buy rating to the stock. Snap currently has a consensus rating of “Hold” and a consensus target price of $18.25.
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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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