Snap Inc. (NYSE:SNAP) Insider Jeremi Gorman Sells 35,787 Shares

Snap Inc. (NYSE:SNAP) insider Jeremi Gorman sold 35,787 shares of the business’s stock in a transaction on Thursday, September 16th. The shares were sold at an average price of $72.23, for a total transaction of $2,584,895.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Wednesday, August 18th, Jeremi Gorman sold 13,145 shares of Snap stock. The stock was sold at an average price of $71.44, for a total transaction of $939,078.80.
  • On Monday, August 16th, Jeremi Gorman sold 37,065 shares of Snap stock. The stock was sold at an average price of $70.69, for a total transaction of $2,620,124.85.
  • On Monday, July 19th, Jeremi Gorman sold 15,239 shares of Snap stock. The stock was sold at an average price of $58.34, for a total transaction of $889,043.26.
  • On Friday, July 16th, Jeremi Gorman sold 36,183 shares of Snap stock. The shares were sold at an average price of $58.70, for a total transaction of $2,123,942.10.

Shares of SNAP stock opened at $71.73 on Tuesday. The business’s 50-day moving average price is $72.38 and its 200-day moving average price is $64.21. Snap Inc. has a 12 month low of $23.06 and a 12 month high of $80.85. The firm has a market capitalization of $113.41 billion, a price-to-earnings ratio of -140.65 and a beta of 1.27. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.88.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, July 22nd. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.28. Snap had a negative return on equity of 32.45% and a negative net margin of 22.49%. The firm had revenue of $982.11 million for the quarter, compared to analyst estimates of $846.57 million. During the same period last year, the firm posted ($0.09) earnings per share. The business’s revenue for the quarter was up 116.2% on a year-over-year basis. On average, sell-side analysts predict that Snap Inc. will post -0.4 earnings per share for the current fiscal year.

A number of research firms have issued reports on SNAP. Bank of America upped their target price on shares of Snap from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, July 23rd. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $85.00 price target on shares of Snap in a research note on Friday, July 23rd. JMP Securities upped their price target on Snap from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday, July 23rd. KeyCorp upped their price target on Snap from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, July 23rd. Finally, Canaccord Genuity upped their price target on Snap from $76.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $75.77.

Several hedge funds have recently made changes to their positions in SNAP. Anfield Capital Management LLC acquired a new stake in shares of Snap during the second quarter valued at about $27,000. Howe & Rusling Inc. acquired a new stake in shares of Snap during the first quarter valued at about $29,000. Glassman Wealth Services boosted its stake in shares of Snap by 527.9% during the second quarter. Glassman Wealth Services now owns 427 shares of the company’s stock valued at $29,000 after purchasing an additional 359 shares in the last quarter. Samalin Investment Counsel LLC acquired a new position in shares of Snap in the second quarter worth approximately $31,000. Finally, First Manhattan Co. lifted its stake in shares of Snap by 66.7% in the first quarter. First Manhattan Co. now owns 625 shares of the company’s stock worth $32,000 after acquiring an additional 250 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

About Snap

Snap, Inc engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application.

Featured Article: What is the Quick Ratio?

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

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.