Mitchell Lasky Sells 25,000 Shares of Snap Inc (SNAP) Stock

Snap Inc (NYSE:SNAP) Director Mitchell Lasky sold 25,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $13.98, for a total value of $349,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Mitchell Lasky also recently made the following trade(s):

  • On Tuesday, January 30th, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $13.30, for a total value of $332,500.00.
  • On Tuesday, January 23rd, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $14.40, for a total value of $360,000.00.
  • On Tuesday, January 16th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $13.54, for a total value of $338,500.00.
  • On Tuesday, January 9th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $14.11, for a total value of $352,750.00.
  • On Tuesday, January 2nd, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $14.90, for a total value of $372,500.00.
  • On Tuesday, December 26th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $14.96, for a total value of $374,000.00.
  • On Tuesday, December 19th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $15.81, for a total value of $395,250.00.
  • On Tuesday, December 12th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $15.92, for a total value of $398,000.00.
  • On Tuesday, December 5th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $14.79, for a total value of $369,750.00.
  • On Tuesday, November 28th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $13.41, for a total value of $335,250.00.

Snap Inc (NYSE:SNAP) traded up $6.69 on Wednesday, reaching $20.75. The company’s stock had a trading volume of 232,039,254 shares, compared to its average volume of 16,480,000. The firm has a market capitalization of $24,990.00 and a price-to-earnings ratio of -6.53. Snap Inc has a 52 week low of $11.28 and a 52 week high of $29.44.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.17. The company had revenue of $207.90 million for the quarter, compared to analyst estimates of $236.71 million. Snap had a negative return on equity of 107.36% and a negative net margin of 463.16%. The company’s revenue for the quarter was up 62.2% on a year-over-year basis. research analysts expect that Snap Inc will post -3.03 EPS for the current year.

A number of brokerages recently commented on SNAP. Summit Redstone upgraded Snap from a “sell” rating to a “hold” rating and set a $16.00 target price for the company in a report on Wednesday. Oppenheimer raised their target price on Snap from $14.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley raised their target price on Snap from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday. Stifel Nicolaus raised their target price on Snap from $13.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays restated an “overweight” rating and set a $21.00 target price (up from $18.00) on shares of Snap in a report on Wednesday. Fourteen analysts have rated the stock with a sell rating, nineteen have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.99.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. Rhumbline Advisers acquired a new position in Snap during the second quarter worth approximately $331,000. Bank of New York Mellon Corp increased its position in Snap by 57.2% during the second quarter. Bank of New York Mellon Corp now owns 36,643 shares of the company’s stock worth $651,000 after buying an additional 13,336 shares during the period. Prudential Financial Inc. increased its position in Snap by 41.2% during the second quarter. Prudential Financial Inc. now owns 16,800 shares of the company’s stock worth $299,000 after buying an additional 4,900 shares during the period. Ameriprise Financial Inc. acquired a new position in Snap during the second quarter worth approximately $278,000. Finally, BlackRock Inc. increased its position in Snap by 10.0% during the second quarter. BlackRock Inc. now owns 10,343,549 shares of the company’s stock worth $183,805,000 after buying an additional 936,791 shares during the period. 18.97% of the stock is currently owned by institutional investors.

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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.

Insider Buying and Selling by Quarter for Snap (NYSE:SNAP)

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