Snap Inc (SNAP) VP Sells $5,736,000.00 in Stock

Snap Inc (NYSE:SNAP) VP Timothy Sehn sold 400,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $14.34, for a total transaction of $5,736,000.00. Following the transaction, the vice president now directly owns 2,804,168 shares in the company, valued at approximately $40,211,769.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Timothy Sehn also recently made the following trade(s):

  • On Wednesday, August 23rd, Timothy Sehn sold 150,000 shares of Snap stock. The stock was sold at an average price of $15.00, for a total transaction of $2,250,000.00.
  • On Monday, August 14th, Timothy Sehn sold 400,000 shares of Snap stock. The stock was sold at an average price of $12.50, for a total transaction of $5,000,000.00.

Shares of Snap Inc (NYSE SNAP) opened at 15.34 on Monday. Snap Inc has a one year low of $11.28 and a one year high of $29.44. The firm’s 50-day moving average price is $13.91 and its 200 day moving average price is $18.44. The company’s market capitalization is $18.36 billion.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.07. Snap had a negative net margin of 243.90% and a negative return on equity of 48.85%. The firm had revenue of $181.70 million for the quarter, compared to analyst estimates of $186.49 million. Snap’s revenue for the quarter was up 153.1% compared to the same quarter last year. Analysts anticipate that Snap Inc will post ($0.63) earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the company. US Bancorp DE acquired a new stake in shares of Snap during the first quarter valued at about $101,000. WFG Advisors LP acquired a new stake in shares of Snap during the first quarter valued at about $109,000. Seven Bridges Advisors LLC acquired a new stake in shares of Snap during the second quarter valued at about $101,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Snap by 654.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company’s stock valued at $134,000 after purchasing an additional 6,540 shares in the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new stake in shares of Snap during the second quarter valued at about $137,000. 16.40% of the stock is currently owned by hedge funds and other institutional investors.

SNAP has been the topic of a number of recent research reports. Cleveland Research reiterated a “buy” rating on shares of Snap in a research note on Monday, May 15th. Vetr downgraded shares of Snap from a “strong-buy” rating to a “buy” rating and set a $22.78 price target on the stock. in a research note on Wednesday, May 31st. Drexel Hamilton reiterated a “buy” rating and set a $30.00 price target on shares of Snap in a research note on Wednesday, May 24th. Jefferies Group LLC reiterated a “buy” rating and set a $30.00 price target on shares of Snap in a research note on Monday, May 22nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $31.00 price target on shares of Snap in a research note on Tuesday, July 11th. Ten analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.33.

About Snap

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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