Insider Selling: Snap Inc (SNAP) Director Sells 58,668 Shares of Stock

Snap Inc (NYSE:SNAP) Director Michael Lynton sold 58,668 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $11.00, for a total value of $645,348.00. Following the transaction, the director now directly owns 126,817 shares in the company, valued at approximately $1,394,987. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of SNAP stock traded down $0.12 during trading on Friday, reaching $11.16. 51,633,072 shares of the company’s stock were exchanged, compared to its average volume of 29,222,752. The firm has a market capitalization of $13.05 billion, a PE ratio of -11.51 and a beta of 1.14. Snap Inc has a twelve month low of $4.82 and a twelve month high of $17.24.

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Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.15. The business had revenue of $389.82 million during the quarter, compared to the consensus estimate of $378.90 million. Snap had a negative return on equity of 46.90% and a negative net margin of 106.39%. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.13) EPS. As a group, research analysts predict that Snap Inc will post -0.69 EPS for the current fiscal year.

Several research analysts have weighed in on SNAP shares. Zacks Investment Research raised Snap from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, February 18th. Citigroup raised Snap from a “sell” rating to a “neutral” rating and set a $7.00 price target on the stock in a research report on Monday, January 14th. Goldman Sachs Group lowered Snap from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $10.00 to $6.00 in a research report on Friday, January 4th. BTIG Research raised Snap from a “sell” rating to a “neutral” rating in a research report on Thursday, December 20th. Finally, Royal Bank of Canada lowered Snap from an “outperform” rating to a “sector perform” rating and set a $5.78 price target on the stock. in a research report on Wednesday, January 16th. Four analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $8.85.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC boosted its stake in Snap by 306.5% in the 4th quarter. FNY Investment Advisers LLC now owns 5,000 shares of the company’s stock valued at $27,000 after purchasing an additional 3,770 shares during the period. Edge Wealth Management LLC boosted its stake in Snap by 1,173.7% in the 4th quarter. Edge Wealth Management LLC now owns 5,426 shares of the company’s stock valued at $30,000 after purchasing an additional 5,000 shares during the period. Atlas Capital Advisors LLC bought a new stake in Snap in the 4th quarter valued at $41,000. Wedbush Securities Inc. bought a new stake in Snap in the 4th quarter valued at $55,000. Finally, Sigma Planning Corp bought a new stake in Snap in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 23.31% of the company’s stock.

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Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

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