Jared Grusd Sells 30,980 Shares of Snap Inc (NYSE:SNAP) Stock

Snap Inc (NYSE:SNAP) insider Jared Grusd sold 30,980 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.88, for a total value of $430,002.40. Following the transaction, the insider now directly owns 2,368,882 shares of the company’s stock, valued at $32,880,082.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Jared Grusd also recently made the following trade(s):

  • On Wednesday, September 18th, Jared Grusd sold 30,405 shares of Snap stock. The stock was sold at an average price of $16.70, for a total value of $507,763.50.
  • On Monday, September 16th, Jared Grusd sold 31,129 shares of Snap stock. The stock was sold at an average price of $15.68, for a total value of $488,102.72.
  • On Friday, August 16th, Jared Grusd sold 30,390 shares of Snap stock. The stock was sold at an average price of $16.05, for a total value of $487,759.50.
  • On Tuesday, August 20th, Jared Grusd sold 61,534 shares of Snap stock. The stock was sold at an average price of $16.02, for a total value of $985,774.68.

SNAP stock opened at $13.52 on Friday. The business has a 50 day moving average price of $15.51 and a 200 day moving average price of $14.14. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of -13.94 and a beta of 1.11. Snap Inc has a fifty-two week low of $4.82 and a fifty-two week high of $18.36. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.02. Snap had a negative return on equity of 46.46% and a negative net margin of 77.54%. The firm had revenue of $388.02 million during the quarter, compared to analysts’ expectations of $358.16 million. During the same quarter in the previous year, the business earned ($0.14) earnings per share. The firm’s revenue was up 48.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Snap Inc will post -0.71 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Prime Capital Investment Advisors LLC purchased a new stake in Snap in the second quarter valued at approximately $27,000. Atlas Capital Advisors LLC purchased a new stake in Snap in the second quarter valued at approximately $29,000. Optimum Investment Advisors purchased a new stake in Snap in the third quarter valued at approximately $32,000. Catalyst Capital Advisors LLC lifted its stake in Snap by 38.8% in the second quarter. Catalyst Capital Advisors LLC now owns 2,386 shares of the company’s stock valued at $34,000 after buying an additional 667 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in Snap by 400.0% in the second quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock valued at $36,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 26.88% of the company’s stock.

A number of equities analysts have recently commented on the company. Summit Insights raised Snap from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Wedbush boosted their price objective on Snap from $12.25 to $14.75 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. SunTrust Banks boosted their price objective on Snap from $11.00 to $17.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Aegis boosted their price objective on Snap from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Snap from $11.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twenty-one have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.48.

Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

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

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