Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow Sells 32,000 Shares

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 32,000 shares of Snap stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $12.42, for a total transaction of $397,440.00. Following the sale, the chief accounting officer now directly owns 433,064 shares of the company’s stock, valued at $5,378,654.88. The trade was a 6.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, November 18th, Rebecca Morrow sold 11,154 shares of Snap stock. The shares were sold at an average price of $10.55, for a total value of $117,674.70.
• On Monday, September 16th, Rebecca Morrow sold 2,459 shares of Snap stock. The shares were sold at an average price of $9.29, for a total transaction of $22,844.11.

Snap Stock Down 3.3 %

NYSE:SNAP traded down $0.41 during trading hours on Wednesday, hitting $12.00. 20,824,738 shares of the company traded hands, compared to its average volume of 27,867,988. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The company has a market cap of $20.13 billion, a PE ratio of -21.53 and a beta of 0.97. The firm’s 50-day simple moving average is $11.31 and its 200-day simple moving average is $12.12. Snap Inc. has a one year low of $8.29 and a one year high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the company earned ($0.21) earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Equities analysts predict that Snap Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of Snap

A number of hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Snap during the 3rd quarter valued at $29,000. Paladin Wealth LLC purchased a new stake in Snap during the third quarter worth about $30,000. Advisors Asset Management Inc. raised its position in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after acquiring an additional 1,632 shares during the period. Hollencrest Capital Management purchased a new position in Snap in the second quarter valued at about $33,000. Finally, Blue Trust Inc. boosted 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 acquiring an additional 1,682 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Piper Sandler reissued a “neutral” rating and set a $13.00 price target (up previously from $12.00) on shares of Snap in a research report on Wednesday, October 30th. JMP Securities dropped their price objective on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, October 30th. Benchmark reissued a “hold” rating on shares of Snap in a report on Friday, October 25th. Finally, Canaccord Genuity Group boosted their price target on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.10.

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.