Eric Young Sells 119,112 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAPGet Free Report) SVP Eric Young sold 119,112 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $11.90, for a total value of $1,417,432.80. Following the completion of the sale, the senior vice president now directly owns 3,391,040 shares in the company, valued at $40,353,376. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Snap Price Performance

Shares of SNAP stock opened at $12.15 on Tuesday. The stock’s fifty day moving average is $9.65 and its 200-day moving average is $10.21. The company has a debt-to-equity ratio of 1.50, a quick ratio of 4.83 and a current ratio of 4.83. Snap Inc. has a 52 week low of $7.86 and a 52 week high of $13.89. The stock has a market capitalization of $20.00 billion, a PE ratio of -14.19 and a beta of 1.20.

Snap (NYSE:SNAPGet Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. Snap had a negative net margin of 29.99% and a negative return on equity of 44.24%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Equities research analysts expect that Snap Inc. will post -0.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SNAP has been the subject of several recent analyst reports. HSBC began coverage on Snap in a research note on Tuesday, September 26th. They set a “reduce” rating and a $7.50 target price for the company. Rosenblatt Securities upped their target price on shares of Snap from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. UBS Group dropped their price objective on shares of Snap from $14.00 to $12.00 in a report on Wednesday, July 26th. Morgan Stanley lifted their target price on Snap from $6.50 to $7.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 25th. Finally, Wells Fargo & Company cut their price target on Snap from $9.00 to $8.00 in a report on Friday, October 6th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus target price of $10.52.

Read Our Latest Analysis on SNAP

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SNAP. SRS Investment Management LLC bought a new stake in shares of Snap during the second quarter worth $623,522,000. Wellington Management Group LLP raised its holdings in Snap by 95.8% during the 1st quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock worth $641,028,000 after purchasing an additional 8,712,380 shares during the last quarter. Capital World Investors lifted its position in Snap by 25.7% during the 2nd quarter. Capital World Investors now owns 38,541,836 shares of the company’s stock valued at $456,335,000 after purchasing an additional 7,888,448 shares during the period. Two Sigma Advisers LP boosted its stake in shares of Snap by 31.3% in the 1st quarter. Two Sigma Advisers LP now owns 24,618,677 shares of the company’s stock valued at $275,975,000 after purchasing an additional 5,874,300 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Snap by 136.1% during the 2nd quarter. SG Americas Securities LLC now owns 5,991,492 shares of the company’s stock worth $70,939,000 after buying an additional 3,454,261 shares during the period. Institutional investors and hedge funds own 44.37% of the company’s stock.

About Snap

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Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.

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

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