Snap Inc. (NYSE:SNAP) CEO Sells 150,000 Shares

Snap Inc. (NYSE:SNAP) CEO Evan Spiegel sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $14.35, for a total transaction of $2,152,500.00. Following the sale, the chief executive officer now directly owns 3,477,844 shares of the company’s stock, valued at approximately $49,907,061.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Evan Spiegel also recently made the following trade(s):

• On Thursday, February 8th, Evan Spiegel sold 150,000 shares of Snap stock. The shares were sold at an average price of $11.11, for a total transaction of $1,666,500.00.

Snap Stock Performance

Shares of SNAP stock opened at $16.25 on Friday. The business’s 50 day simple moving average is $11.73 and its 200 day simple moving average is $13.06. Snap Inc. has a one year low of $7.86 and a one year high of $17.90. The stock has a market capitalization of $26.81 billion, a PE ratio of -20.06 and a beta of 1.02. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 4.39.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. As a group, research analysts forecast that Snap Inc. will post -0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Snap from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $19.00 in a research note on Friday, January 26th. UBS Group decreased their target price on Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Evercore ISI lifted their target price on Snap from $13.00 to $14.00 and gave the company an “in-line” rating in a research report on Friday, April 26th. Canaccord Genuity Group lifted their target price on Snap from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Finally, The Goldman Sachs Group lifted their target price on Snap from $13.50 to $16.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.79.

Institutional Trading of Snap

Several institutional investors have recently added to or reduced their stakes in SNAP. Sowell Financial Services LLC lifted its stake in Snap by 3.3% in the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock valued at $392,000 after buying an additional 729 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after buying an additional 891 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in Snap by 3.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock valued at $533,000 after buying an additional 1,000 shares during the period. Impax Asset Management Group plc raised its position in shares of Snap by 4.5% during the third quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock worth $209,000 after purchasing an additional 1,017 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Snap by 7.1% during the third quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock worth $137,000 after purchasing an additional 1,025 shares during the period. 47.52% of the stock is currently owned by institutional investors.

About Snap

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.