Insider Selling: Snap Inc. (NYSE:SNAP) Insider Sells $1,310,212.40 in Stock

Snap Inc. (NYSE:SNAP) insider Jared Grusd sold 33,128 shares of the firm’s stock in a transaction dated Monday, November 16th. The stock was sold at an average price of $39.55, for a total value of $1,310,212.40. Following the completion of the transaction, the insider now directly owns 1,828,594 shares in the company, valued at approximately $72,320,892.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Friday, October 16th, Jared Grusd sold 52,728 shares of Snap stock. The shares were sold at an average price of $28.03, for a total value of $1,477,965.84.
  • On Wednesday, September 16th, Jared Grusd sold 52,642 shares of Snap stock. The shares were sold at an average price of $24.79, for a total value of $1,304,995.18.

Shares of Snap stock opened at $44.29 on Friday. The stock has a 50 day moving average price of $35.59 and a 200-day moving average price of $25.24. Snap Inc. has a one year low of $7.89 and a one year high of $45.60. The company has a debt-to-equity ratio of 0.74, a quick ratio of 5.99 and a current ratio of 5.99. The stock has a market cap of $65.99 billion, a price-to-earnings ratio of -59.05 and a beta of 1.52.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.19. Snap had a negative return on equity of 49.08% and a negative net margin of 57.18%. The company had revenue of $678.67 million during the quarter, compared to analysts’ expectations of $551.36 million. During the same quarter in the previous year, the business earned ($0.04) EPS. Snap’s revenue was up 52.1% compared to the same quarter last year. Sell-side analysts predict that Snap Inc. will post -0.71 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of SNAP. Fir Tree Capital Management LP purchased a new position in Snap during the 2nd quarter valued at $12,299,000. FMR LLC boosted its holdings in Snap by 239.5% during the 2nd quarter. FMR LLC now owns 12,131,595 shares of the company’s stock valued at $284,970,000 after acquiring an additional 8,557,956 shares during the period. Vanguard Group Inc. boosted its holdings in Snap by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 86,564,035 shares of the company’s stock valued at $2,033,390,000 after acquiring an additional 2,406,587 shares during the period. Ardevora Asset Management LLP purchased a new position in Snap during the 2nd quarter valued at $53,102,000. Finally, TD Asset Management Inc. boosted its holdings in Snap by 1,922.5% during the 2nd quarter. TD Asset Management Inc. now owns 1,614,979 shares of the company’s stock valued at $37,936,000 after acquiring an additional 1,535,130 shares during the period. Institutional investors own 47.00% of the company’s stock.

SNAP has been the topic of several recent analyst reports. KeyCorp lifted their target price on Snap from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. Guggenheim raised Snap from a “neutral” rating to a “buy” rating and lifted their target price for the company from $22.00 to $28.00 in a research note on Monday, September 28th. They noted that the move was a valuation call. Citigroup lifted their target price on Snap from $14.00 to $19.00 and gave the company a “sell” rating in a research note on Monday, August 24th. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their target price on Snap from $33.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Snap from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, November 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Snap presently has an average rating of “Buy” and an average target price of $33.38.

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 called Snaps. It also provides Camera, a tool to personalize and add context to Snaps; Chat 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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