Michael J. O’sullivan Sells 18,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $15.10, for a total transaction of $271,800.00. Following the sale, the general counsel now owns 456,812 shares of the company’s stock, valued at $6,897,861.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Snap Stock Down 0.3 %

Shares of NYSE SNAP opened at $16.25 on Friday. Snap Inc. has a 52-week low of $7.86 and a 52-week high of $17.90. The company has a quick ratio of 4.39, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. The company’s 50-day simple moving average is $11.73 and its 200-day simple moving average is $13.06. The firm has a market cap of $26.81 billion, a price-to-earnings ratio of -20.06 and a beta of 1.02.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.10. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. Equities analysts predict that Snap Inc. will post -0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sowell Financial Services LLC lifted its stake in shares of Snap by 3.3% in the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock worth $392,000 after buying an additional 729 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Snap by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after purchasing an additional 891 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Snap by 3.3% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock worth $533,000 after purchasing an additional 1,000 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of Snap by 4.5% in the third quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock valued at $209,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Snap by 7.1% in the third quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock valued at $137,000 after purchasing an additional 1,025 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SNAP. Roth Mkm reaffirmed a “neutral” rating and set a $14.00 price target on shares of Snap in a research report on Tuesday, April 23rd. The Goldman Sachs Group increased their price target on shares of Snap from $13.50 to $16.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Snap from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $19.00 in a research note on Friday, January 26th. BMO Capital Markets cut their price objective on shares of Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Finally, Rosenblatt Securities boosted their target price on shares of Snap from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Snap presently has an average rating of “Hold” and an average price target of $14.79.

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.