Snap Inc (SNAP) VP Lara Sweet Sells 1,969 Shares of Stock
Snap Inc (NYSE:SNAP) VP Lara Sweet sold 1,969 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $6.48, for a total transaction of $12,759.12. Following the completion of the sale, the vice president now owns 1,767,834 shares in the company, valued at $11,455,564.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Lara Sweet also recently made the following trade(s):
- On Tuesday, October 16th, Lara Sweet sold 20,848 shares of Snap stock. The shares were sold at an average price of $7.12, for a total transaction of $148,437.76.
Shares of Snap stock traded up $0.30 on Wednesday, reaching $6.39. 618,843 shares of the company were exchanged, compared to its average volume of 24,468,524. Snap Inc has a 1-year low of $5.77 and a 1-year high of $21.22. The company has a market cap of $7.81 billion, a PE ratio of -3.07 and a beta of -0.49.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Snap from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective on the stock in a report on Wednesday, October 24th. Citigroup reduced their price objective on shares of Snap from $8.00 to $7.00 and set a “sell” rating on the stock in a report on Thursday, October 4th. Stifel Nicolaus reduced their price objective on shares of Snap from $15.00 to $9.00 and set a “hold” rating on the stock in a report on Wednesday, October 24th. Pivotal Research raised Snap from a “hold” rating to a “buy” rating and dropped their target price for the company from $9.00 to $8.00 in a research report on Friday, October 12th. Finally, Credit Suisse Group dropped their target price on Snap from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, August 8th. Nine analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $11.84.
Institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its position in shares of Snap by 23.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 67,949 shares of the company’s stock worth $889,000 after buying an additional 12,765 shares in the last quarter. Vident Investment Advisory LLC boosted its holdings in Snap by 85.6% in the second quarter. Vident Investment Advisory LLC now owns 123,186 shares of the company’s stock valued at $1,613,000 after purchasing an additional 56,831 shares in the last quarter. City Financial Investment Co Ltd acquired a new position in Snap in the second quarter valued at approximately $2,618,000. HRT Financial LLC acquired a new position in Snap in the second quarter valued at approximately $207,000. Finally, Cornerstone Wealth Management LLC acquired a new position in Snap in the second quarter valued at approximately $1,043,000. 21.70% of the stock is owned by institutional investors and hedge funds.
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Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows to creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.
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