Rebecca Morrow Sells 7,000 Shares of Snap (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 7,000 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $7.33, for a total value of $51,310.00. Following the transaction, the chief accounting officer directly owned 490,054 shares of the company’s stock, valued at $3,592,095.82. The trade was a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, December 17th, Rebecca Morrow sold 3,783 shares of Snap stock. The stock was sold at an average price of $7.34, for a total transaction of $27,767.22.
• 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 transaction of $22,309.80.
• On Monday, November 17th, Rebecca Morrow sold 12,699 shares of Snap stock. The shares were sold at an average price of $8.34, for a total transaction of $105,909.66.

Snap Trading Up 1.4%

NYSE SNAP traded up $0.10 during trading hours on Wednesday, hitting $7.47. 61,684,349 shares of the company’s stock were exchanged, compared to its average volume of 51,862,461. The business’s 50 day moving average is $7.89 and its 200-day moving average is $8.15. The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.67 and a current ratio of 3.67. Snap Inc. has a 12-month low of $6.90 and a 12-month high of $13.28. The firm has a market capitalization of $12.85 billion, a P/E ratio of -25.77 and a beta of 0.85.

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

Wall Street Analysts Forecast Growth

SNAP has been the subject of a number of research analyst reports. BMO Capital Markets upped their price objective on Snap from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Zacks Research lowered Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Arete Research upgraded Snap from a “sell” rating to a “neutral” rating in a research note on Tuesday, November 18th. Stifel Nicolaus set a $7.00 target price on Snap in a report on Thursday, November 6th. Finally, Wells Fargo & Company raised their target price on shares of Snap from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Three analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Snap presently has an average rating of “Hold” and an average target price of $9.85.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Garde Capital Inc. boosted its stake in shares of Snap by 209,523.8% during the 3rd quarter. Garde Capital Inc. now owns 44,021 shares of the company’s stock worth $339,000 after acquiring an additional 44,000 shares in the last quarter. Allworth Financial LP lifted its position in shares of Snap by 92.3% in the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after buying an additional 1,581 shares during the last quarter. Swiss Life Asset Management Ltd grew its holdings in Snap by 1.9% during the third quarter. Swiss Life Asset Management Ltd now owns 102,347 shares of the company’s stock valued at $789,000 after purchasing an additional 1,929 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in Snap in the 3rd quarter worth $296,000. Finally, Centaurus Financial Inc. grew its holdings in Snap by 890.5% in the 3rd quarter. Centaurus Financial Inc. now owns 237,568 shares of the company’s stock valued at $1,832,000 after buying an additional 213,584 shares during the last quarter. 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.