Snap Inc. (NYSE:SNAP – Get Rating) CAO Rebecca Morrow sold 6,717 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $9.46, for a total value of $63,542.82. Following the sale, the chief accounting officer now directly owns 259,245 shares in the company, valued at approximately $2,452,457.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Rebecca Morrow also recently made the following trade(s):
- On Friday, December 16th, Rebecca Morrow sold 1,901 shares of Snap stock. The stock was sold at an average price of $8.47, for a total transaction of $16,101.47.
Snap Stock Up 3.8 %
SNAP stock opened at $9.99 on Friday. The company’s 50 day simple moving average is $9.57 and its 200-day simple moving average is $10.56. Snap Inc. has a 12 month low of $7.33 and a 12 month high of $41.97. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 1.29.
Analyst Ratings Changes
A number of equities analysts recently commented on the stock. Bank Of America (Bofa) downgraded shares of Snap from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $22.00 to $11.00 in a research note on Friday, October 21st. JMP Securities downgraded shares of Snap from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 17th. Stifel Nicolaus decreased their price objective on shares of Snap from $14.00 to $9.00 and set a “hold” rating for the company in a research note on Friday, October 21st. Evercore ISI decreased their price objective on shares of Snap from $17.00 to $14.00 and set an “inline” rating for the company in a research note on Friday, October 21st. Finally, New Street Research initiated coverage on shares of Snap in a research note on Wednesday, January 4th. They issued a “buy” rating and a $12.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.88.
Institutional Trading of Snap
Hedge funds have recently bought and sold shares of the company. Pinebridge Investments L.P. boosted its position in Snap by 407.0% during the second quarter. Pinebridge Investments L.P. now owns 2,028 shares of the company’s stock worth $27,000 after acquiring an additional 1,628 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Snap during the second quarter worth approximately $34,000. Castleview Partners LLC boosted its position in Snap by 1,213.0% during the second quarter. Castleview Partners LLC now owns 2,626 shares of the company’s stock worth $200,000 after acquiring an additional 2,426 shares during the last quarter. Crewe Advisors LLC boosted its position in Snap by 753.9% during the second quarter. Crewe Advisors LLC now owns 2,707 shares of the company’s stock worth $36,000 after acquiring an additional 2,390 shares during the last quarter. Finally, Fiduciary Alliance LLC acquired a new position in shares of Snap in the 4th quarter valued at $26,000. Institutional investors and hedge funds own 43.30% of the company’s stock.
Snap Company Profile
Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.
- Get a free copy of the StockNews.com research report on Snap (SNAP)
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