Snap Inc. (NYSE:SNAP) CEO Sells $2,152,500.00 in Stock

Snap Inc. (NYSE:SNAP) CEO Evan Spiegel sold 150,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $14.35, for a total transaction of $2,152,500.00. Following the completion of the transaction, the chief executive officer now owns 3,477,844 shares of the company’s stock, valued at approximately $49,907,061.40. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Evan Spiegel also recently made the following trade(s):

• On Thursday, February 8th, Evan Spiegel sold 150,000 shares of Snap stock. The shares were sold at an average price of $11.11, for a total transaction of $1,666,500.00.

Snap Stock Down 0.3 %

Shares of NYSE SNAP opened at $16.25 on Friday. The firm has a market capitalization of $26.81 billion, a PE ratio of -20.06 and a beta of 1.02. The company has a current ratio of 3.76, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap Inc. has a 1 year low of $7.86 and a 1 year high of $17.90. The firm’s 50-day moving average is $11.73 and its 200-day moving average is $13.06.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. Equities analysts expect that Snap Inc. will post -0.46 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SNAP shares. BMO Capital Markets dropped their price objective on shares of Snap from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Morgan Stanley increased their target price on shares of Snap from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Friday, April 26th. The Goldman Sachs Group increased their target price on shares of Snap from $13.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Piper Sandler increased their target price on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Finally, Truist Financial increased their target price on shares of Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.79.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Snap by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after purchasing an additional 3,503,230 shares during the last quarter. SRS Investment Management LLC raised its position in shares of Snap by 23.6% in the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after acquiring an additional 12,452,415 shares during the period. Capital World Investors raised its position in shares of Snap by 0.6% in the 4th quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock valued at $776,868,000 after acquiring an additional 274,176 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Snap by 4.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock valued at $73,666,000 after acquiring an additional 327,038 shares during the period. Finally, Carmignac Gestion acquired a new stake in shares of Snap in the 4th quarter valued at approximately $110,103,000. Institutional investors own 47.52% of the company’s stock.

About Snap

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.