Snap Inc. (NYSE:SNAP) Director Sells $20,208.58 in Stock

Snap Inc. (NYSE:SNAP) Director Joanna Coles sold 1,666 shares of Snap stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $12.13, for a total value of $20,208.58. Following the sale, the director now owns 53,095 shares of the company’s stock, valued at approximately $644,042.35. This represents a 3.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Joanna Coles also recently made the following trade(s):

• On Wednesday, October 30th, Joanna Coles sold 6,434 shares of Snap stock. The shares were sold at an average price of $12.00, for a total transaction of $77,208.00.

Snap Price Performance

Shares of SNAP stock opened at $10.61 on Friday. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.90. The company has a market capitalization of $17.79 billion, a PE ratio of -18.28 and a beta of 0.99. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The firm has a fifty day simple moving average of $10.68 and a 200-day simple moving average of $12.69.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.21) earnings per share. Equities research analysts anticipate that Snap Inc. will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snap

Institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC raised its stake in shares of Snap by 37.0% in the 1st quarter. Empowered Funds LLC now owns 30,878 shares of the company’s stock valued at $354,000 after purchasing an additional 8,338 shares in the last quarter. Forsta AP Fonden lifted its holdings in Snap by 16.2% during the 1st quarter. Forsta AP Fonden now owns 230,600 shares of the company’s stock worth $2,647,000 after buying an additional 32,200 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in shares of Snap in the 1st quarter worth approximately $293,000. Russell Investments Group Ltd. grew its position in shares of Snap by 31.9% in the 1st quarter. Russell Investments Group Ltd. now owns 275,539 shares of the company’s stock worth $3,160,000 after acquiring an additional 66,694 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Snap by 12.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 110,654 shares of the company’s stock valued at $1,240,000 after acquiring an additional 12,300 shares during the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNAP. Canaccord Genuity Group boosted their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Loop Capital increased their price target on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley raised Snap from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $12.00 to $16.00 in a research report on Tuesday, July 23rd. Argus upgraded Snap to a “hold” rating in a research report on Thursday, August 8th. Finally, Citigroup lowered their price target on Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap has an average rating of “Hold” and a consensus price target of $14.31.

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.