Snap Inc. (NYSE:SNAP) insider Imran Khan sold 350,000 shares of Snap stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $15.00, for a total value of $5,250,000.00. Following the completion of the transaction, the insider now directly owns 9,946,464 shares of the company’s stock, valued at approximately $149,196,960. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Imran Khan also recently made the following trade(s):

  • On Monday, August 14th, Imran Khan sold 150,000 shares of Snap stock. The stock was sold at an average price of $12.50, for a total value of $1,875,000.00.

Shares of Snap Inc. (SNAP) traded up 1.72% on Friday, hitting $14.78. The company had a trading volume of 23,066,766 shares. Snap Inc. has a 52 week low of $11.28 and a 52 week high of $29.44. The stock’s 50-day moving average is $14.14 and its 200 day moving average is $18.70. The company’s market capitalization is $17.69 billion.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, August 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by $0.07. The firm had revenue of $181.70 million during the quarter, compared to analyst estimates of $186.49 million. The firm’s quarterly revenue was up 153.1% compared to the same quarter last year. Equities analysts expect that Snap Inc. will post ($0.63) EPS for the current year.

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Several research firms have recently issued reports on SNAP. UBS AG raised Snap from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $24.00 to $19.00 in a research report on Thursday, May 11th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $15.00 price target (down previously from $22.00) on shares of Snap in a research report on Friday, May 12th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $16.50 price target (down previously from $20.00) on shares of Snap in a research report on Thursday, July 13th. SunTrust Banks, Inc. began coverage on Snap in a research report on Tuesday, August 15th. They issued a “sell” rating and a $10.00 price target for the company. Finally, Zacks Investment Research raised Snap from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Ten investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $18.48.

Institutional investors have recently modified their holdings of the company. Essex Investment Management Co. LLC acquired a new position in shares of Snap during the first quarter worth about $2,012,000. Sumitomo Mitsui Asset Management Company LTD acquired a new position in shares of Snap during the first quarter worth about $2,119,000. Exane Derivatives acquired a new position in shares of Snap during the first quarter worth about $282,000. Jennison Associates LLC acquired a new position in shares of Snap during the first quarter worth about $119,178,000. Finally, Geneva Advisors LLC acquired a new position in shares of Snap during the first quarter worth about $406,000. 29.24% of the stock is owned by institutional investors and hedge funds.

About Snap

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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