Insider Selling: Snap Inc. (NYSE:SNAP) Insider Sells $605,038.75 in Stock

Snap Inc. (NYSE:SNAP) insider Jeremi Gorman sold 15,415 shares of the firm’s stock in a transaction that occurred on Wednesday, November 18th. The stock was sold at an average price of $39.25, for a total value of $605,038.75. Following the completion of the sale, the insider now owns 2,117,577 shares of the company’s stock, valued at approximately $83,114,897.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Jeremi Gorman also recently made the following trade(s):

  • On Monday, October 19th, Jeremi Gorman sold 15,924 shares of Snap stock. The stock was sold at an average price of $28.30, for a total value of $450,649.20.

NYSE:SNAP opened at $44.29 on Friday. Snap Inc. has a 12-month low of $7.89 and a 12-month high of $45.60. The company has a quick ratio of 5.99, a current ratio of 5.99 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $65.99 billion, a P/E ratio of -59.05 and a beta of 1.52. The stock’s fifty day simple moving average is $35.59 and its 200-day simple moving average is $25.24.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, October 20th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.19. The firm had revenue of $678.67 million for the quarter, compared to analyst estimates of $551.36 million. Snap had a negative return on equity of 49.08% and a negative net margin of 57.18%. The company’s revenue for the quarter was up 52.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) earnings per share. As a group, equities research analysts expect that Snap Inc. will post -0.71 earnings per share for the current year.

A number of analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Snap from $33.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft raised their price objective on Snap from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, November 12th. Oppenheimer raised their price objective on Snap from $28.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. The Goldman Sachs Group raised their price objective on Snap from $28.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Finally, JMP Securities raised their price objective on Snap from $28.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $33.38.

A number of hedge funds have recently bought and sold shares of the business. Costello Asset Management INC lifted its holdings in Snap by 12.9% during the third quarter. Costello Asset Management INC now owns 2,270 shares of the company’s stock worth $59,000 after acquiring an additional 260 shares in the last quarter. Wetherby Asset Management Inc. lifted its holdings in Snap by 0.8% during the third quarter. Wetherby Asset Management Inc. now owns 39,496 shares of the company’s stock worth $1,031,000 after acquiring an additional 325 shares in the last quarter. Kovack Advisors Inc. lifted its holdings in Snap by 4.0% during the third quarter. Kovack Advisors Inc. now owns 10,285 shares of the company’s stock worth $269,000 after acquiring an additional 400 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Snap by 4.7% during the third quarter. Janney Montgomery Scott LLC now owns 9,280 shares of the company’s stock worth $242,000 after acquiring an additional 418 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its holdings in Snap by 4.8% during the second quarter. Koshinski Asset Management Inc. now owns 10,878 shares of the company’s stock worth $256,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 47.00% of the company’s stock.

About Snap

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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