Snap (NYSE:SNAP) CAO Rebecca Morrow Sells 3,783 Shares

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 3,783 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $7.34, for a total value of $27,767.22. Following the sale, the chief accounting officer owned 483,181 shares in the company, valued at approximately $3,546,548.54. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, December 16th, Rebecca Morrow sold 3,090 shares of Snap stock. The stock was sold at an average price of $7.22, for a total value of $22,309.80.
• On Monday, December 15th, Rebecca Morrow sold 7,000 shares of Snap stock. The shares were sold at an average price of $7.33, for a total value of $51,310.00.
• On Monday, November 17th, Rebecca Morrow sold 12,699 shares of Snap stock. The stock was sold at an average price of $8.34, for a total value of $105,909.66.

Snap Stock Performance

SNAP stock traded up $0.10 during mid-day trading on Wednesday, reaching $7.47. 61,684,349 shares of the stock traded hands, compared to its average volume of 33,953,224. Snap Inc. has a one year low of $6.90 and a one year high of $13.28. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 1.57. The business has a 50-day moving average price of $7.87 and a two-hundred day moving average price of $8.15.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.During the same period in the prior year, the firm posted ($0.09) earnings per share. Snap’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Nuveen LLC bought a new position in shares of Snap during the first quarter valued at approximately $1,675,000. Corient IA LLC purchased a new stake in Snap during the first quarter worth $131,000. Algert Global LLC purchased a new stake in Snap during the first quarter worth $344,000. Korea Investment CORP boosted its position in Snap by 70.1% during the 1st quarter. Korea Investment CORP now owns 855,374 shares of the company’s stock valued at $7,450,000 after acquiring an additional 352,379 shares in the last quarter. Finally, Credit Agricole S A boosted its position in Snap by 30.0% during the 1st quarter. Credit Agricole S A now owns 77,581 shares of the company’s stock valued at $676,000 after acquiring an additional 17,921 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SNAP. Wells Fargo & Company increased their price target on Snap from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Arete Research upgraded Snap from a “sell” rating to a “neutral” rating in a research report on Tuesday, November 18th. Rosenblatt Securities boosted their target price on shares of Snap from $8.70 to $9.50 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Guggenheim reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Snap in a research note on Friday, September 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Snap in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Snap has an average rating of “Hold” and a consensus price target of $9.85.

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.