Snap Inc. (NYSE:SNAP) Director Sells $23,422.50 in Stock

Snap Inc. (NYSE:SNAP) Director Elizabeth Jenkins sold 1,735 shares of Snap stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $13.50, for a total value of $23,422.50. Following the completion of the sale, the director now directly owns 50,371 shares in the company, valued at $680,008.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Snap Trading Down 0.9 %

Shares of NYSE:SNAP opened at $13.33 on Friday. Snap Inc. has a 52-week low of $8.28 and a 52-week high of $17.90. The business’s 50 day moving average is $15.54 and its 200 day moving average is $14.01. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.10. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Sell-side analysts predict that Snap Inc. will post -0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SNAP shares. Canaccord Genuity Group boosted their price objective on Snap from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Morgan Stanley raised Snap from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $12.00 to $16.00 in a research note on Tuesday, July 23rd. HSBC raised Snap from a “reduce” rating to a “buy” rating in a research note on Friday, April 26th. Evercore ISI boosted their price objective on Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a research note on Friday, April 26th. Finally, Truist Financial boosted their price objective on Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNAP. SRS Investment Management LLC grew its stake in Snap by 23.6% in the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after purchasing an additional 12,452,415 shares in the last quarter. Carmignac Gestion bought a new position in Snap in the fourth quarter worth approximately $110,103,000. Contrarius Investment Management Ltd bought a new stake in Snap during the 4th quarter valued at $80,644,000. Vanguard Group Inc. boosted its position in Snap by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after acquiring an additional 3,503,230 shares in the last quarter. Finally, TB Alternative Assets Ltd. boosted its position in Snap by 144.5% during the 1st quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock valued at $58,488,000 after acquiring an additional 3,011,400 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Company Profile

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.