Insider Selling: Snap Inc. (NYSE:SNAP) SVP Sells 115,915 Shares of Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 115,915 shares of Snap stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.91, for a total transaction of $1,844,207.65. Following the completion of the transaction, the senior vice president now directly owns 3,292,657 shares of the company’s stock, valued at $52,386,172.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Snap Trading Up 1.8 %

Snap stock opened at $15.91 on Thursday. Snap Inc. has a one year low of $8.28 and a one year high of $17.90. The stock has a market cap of $26.11 billion, a PE ratio of -19.64 and a beta of 1.02. The company has a debt-to-equity ratio of 1.55, a quick ratio of 3.76 and a current ratio of 3.76. The stock has a 50-day moving average of $12.98 and a two-hundred day moving average of $13.68.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. On average, research analysts anticipate that Snap Inc. will post -0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SNAP has been the topic of several recent research reports. The Goldman Sachs Group increased their price target on Snap from $13.50 to $16.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Royal Bank of Canada increased their target price on shares of Snap from $13.00 to $16.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Evercore ISI lifted their price target on shares of Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a research note on Friday, April 26th. Truist Financial raised their price objective on shares of Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft raised Snap from a “hold” rating to a “buy” rating and upped their target price for the company from $10.00 to $19.00 in a research note on Friday, January 26th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.79.

Institutional Investors Weigh In On Snap

Several institutional investors and hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. increased its position in shares of Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after acquiring an additional 1,445 shares during the period. Allworth Financial LP grew its stake in Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Snap in the fourth quarter valued at about $51,000. Rakuten Securities Inc. purchased a new position in shares of Snap in the fourth quarter worth about $73,000. Finally, Westpac Banking Corp lifted its holdings in shares of Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after purchasing an additional 2,506 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.