Rebecca Morrow Sells 16,499 Shares of Snap (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 16,499 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total value of $77,545.30. Following the completion of the transaction, the chief accounting officer directly owned 466,682 shares in the company, valued at approximately $2,193,405.40. This trade represents a 3.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, February 19th, Rebecca Morrow sold 3,175 shares of Snap stock. The stock was sold at an average price of $4.84, for a total value of $15,367.00.
• On Wednesday, December 17th, Rebecca Morrow sold 3,783 shares of Snap stock. The shares were 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 shares were sold at an average price of $7.22, for a total transaction of $22,309.80.
• On Monday, December 15th, Rebecca Morrow sold 7,000 shares of Snap stock. The stock was sold at an average price of $7.33, for a total value of $51,310.00.

Snap Stock Up 2.3%

Shares of NYSE:SNAP traded up $0.11 during trading on Thursday, hitting $4.99. 45,997,016 shares of the company’s stock traded hands, compared to its average volume of 58,450,742. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 1.53. The company has a 50-day moving average price of $7.13 and a 200-day moving average price of $7.56. Snap Inc. has a 52 week low of $4.65 and a 52 week high of $10.83. The company has a market cap of $8.43 billion, a price-to-earnings ratio of -18.48 and a beta of 0.83.

Snap (NYSE:SNAP) last announced its earnings results on Wednesday, February 4th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.12). The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Snap had a negative return on equity of 20.72% and a negative net margin of 7.76%.The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.01 earnings per share. As a group, research analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SNAP. UBS Group set a $7.30 price target on Snap in a report on Tuesday, February 10th. Sanford C. Bernstein restated a “market perform” rating and issued a $8.00 target price on shares of Snap in a research note on Thursday, February 5th. Canaccord Genuity Group set a $7.00 price target on Snap in a research report on Thursday, February 5th. TD Cowen decreased their price target on shares of Snap from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. Finally, Citigroup cut their price objective on shares of Snap from $10.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Snap currently has an average rating of “Hold” and a consensus price target of $8.43.

Institutional Investors Weigh In On Snap

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP raised its position in shares of Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after buying an additional 1,581 shares in the last quarter. Arax Advisory Partners boosted its holdings in shares of Snap by 220.0% in the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock valued at $27,000 after purchasing an additional 2,275 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Snap in the 4th quarter valued at $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of Snap by 561.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after buying an additional 3,071 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Snap during the 3rd quarter worth $33,000. 47.52% of the stock is owned by institutional investors.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.