Insider Selling: Snap Inc. (SNAP) VP Sells 150,000 Shares of Stock
Snap Inc. (NYSE:SNAP) VP Timothy Sehn sold 150,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $15.00, for a total transaction of $2,250,000.00. Following the sale, the vice president now directly owns 2,679,168 shares in the company, valued at approximately $40,187,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Timothy Sehn also recently made the following trade(s):
- On Monday, August 14th, Timothy Sehn sold 400,000 shares of Snap stock. The shares were sold at an average price of $12.50, for a total transaction of $5,000,000.00.
Shares of Snap Inc. (NYSE SNAP) traded up 1.72% on Friday, reaching $14.78. 23,066,766 shares of the company’s stock traded hands. The firm’s market capitalization is $17.69 billion. The firm’s 50 day moving average is $14.14 and its 200 day moving average is $18.70. Snap Inc. has a 52 week low of $11.28 and a 52 week high of $29.44.
Snap (NYSE:SNAP) last announced its earnings results on Thursday, August 10th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by $0.07. The company had revenue of $181.70 million during the quarter, compared to analyst estimates of $186.49 million. The company’s quarterly revenue was up 153.1% compared to the same quarter last year. Analysts expect that Snap Inc. will post ($0.63) earnings per share for the current fiscal year.
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A number of large investors have recently bought and sold shares of SNAP. JPMorgan Chase & Co. acquired a new stake in Snap during the first quarter valued at about $252,388,000. US Bancorp DE acquired a new stake in Snap during the first quarter valued at about $101,000. Global X Management Co. LLC acquired a new stake in Snap during the first quarter valued at about $3,650,000. Oppenheimer & Co. Inc. acquired a new stake in Snap during the first quarter valued at about $369,000. Finally, First Trust Advisors LP increased its stake in Snap by 34.4% in the second quarter. First Trust Advisors LP now owns 604,218 shares of the company’s stock valued at $10,737,000 after buying an additional 154,609 shares in the last quarter. Institutional investors own 29.24% of the company’s stock.
A number of equities research analysts recently issued reports on SNAP shares. Drexel Hamilton reaffirmed a “buy” rating and set a $30.00 price target on shares of Snap in a research note on Thursday, May 11th. Vetr downgraded shares of Snap from a “buy” rating to a “hold” rating and set a $13.95 price target on the stock. in a research note on Monday, July 31st. Morgan Stanley decreased their price target on shares of Snap from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $23.00 price target (down previously from $27.00) on shares of Snap in a research note on Friday, August 11th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $18.00 price target (down previously from $20.00) on shares of Snap in a research note on Monday, June 5th. Ten investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and thirteen have assigned a buy rating to the stock. Snap presently has a consensus rating of “Hold” and a consensus target price of $18.48.
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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