Snap Inc. (NYSE:SNAP) SVP Sells $1,010,115.28 in Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 117,592 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.59, for a total transaction of $1,010,115.28. Following the sale, the senior vice president now directly owns 3,348,290 shares of the company’s stock, valued at $28,761,811.10. This represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Eric Young also recently made the following trade(s):

• On Tuesday, February 18th, Eric Young sold 102,152 shares of Snap stock. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68.

Snap Stock Performance

SNAP opened at $8.29 on Thursday. Snap Inc. has a 52-week low of $7.08 and a 52-week high of $17.33. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The company has a market cap of $13.85 billion, a P/E ratio of -19.73 and a beta of 0.61. The firm’s 50-day moving average price is $8.47 and its 200-day moving average price is $10.18.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company earned $0.03 EPS. The business’s revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNAP. B. Riley lowered their target price on shares of Snap from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on shares of Snap from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group lowered their price objective on shares of Snap from $9.50 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Canaccord Genuity Group lowered their price objective on shares of Snap from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Finally, Piper Sandler lowered their price objective on shares of Snap from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Snap has a consensus rating of “Hold” and an average price target of $35.62.

Hedge Funds Weigh In On Snap

Hedge funds have recently modified their holdings of the stock. NBC Securities Inc. increased its holdings in shares of Snap by 154,650.0% during the first quarter. NBC Securities Inc. now owns 3,095 shares of the company’s stock valued at $26,000 after acquiring an additional 3,093 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in Snap in the fourth quarter valued at approximately $27,000. Raiffeisen Bank International AG purchased a new stake in Snap in the fourth quarter valued at approximately $30,000. Rakuten Securities Inc. boosted its position in Snap by 155.4% in the first quarter. Rakuten Securities Inc. now owns 3,489 shares of the company’s stock valued at $30,000 after buying an additional 2,123 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in Snap in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Company Profile

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.