Snap Inc (SNAP) VP Sells $5,940,000.00 in Stock
Snap Inc (NYSE:SNAP) VP Timothy Sehn sold 400,000 shares of Snap stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $14.85, for a total value of $5,940,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Timothy Sehn also recently made the following trade(s):
- On Tuesday, September 5th, Timothy Sehn sold 400,000 shares of Snap stock. The stock was sold at an average price of $14.34, for a total value of $5,736,000.00.
- On Wednesday, August 23rd, Timothy Sehn sold 150,000 shares of Snap stock. The stock was sold at an average price of $15.00, for a total value of $2,250,000.00.
- On Monday, August 14th, Timothy Sehn sold 400,000 shares of Snap stock. The stock was sold at an average price of $12.50, for a total value of $5,000,000.00.
Shares of Snap Inc (NYSE:SNAP) opened at 14.79 on Friday. The company’s market cap is $17.71 billion. The company has a 50-day moving average price of $14.58 and a 200-day moving average price of $17.55. Snap Inc has a 52-week low of $11.28 and a 52-week high of $29.44.
Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The firm had revenue of $181.70 million for the quarter, compared to analysts’ expectations of $186.49 million. Snap had a negative net margin of 243.90% and a negative return on equity of 48.85%. The business’s revenue was up 153.1% on a year-over-year basis. On average, equities analysts predict that Snap Inc will post ($0.64) EPS for the current year.
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Several equities research analysts recently weighed in on SNAP shares. Cantor Fitzgerald reissued a “buy” rating and issued a $15.00 price objective on shares of Snap in a report on Tuesday, August 22nd. Credit Suisse Group reissued an “outperform” rating and issued a $25.00 price objective (down previously from $30.00) on shares of Snap in a report on Monday, July 10th. Wedbush started coverage on Snap in a report on Wednesday, August 30th. They issued a “neutral” rating and a $12.00 price objective for the company. Canaccord Genuity reissued a “hold” rating and issued a $15.00 price objective on shares of Snap in a report on Sunday, October 1st. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Snap in a report on Thursday. Ten investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.21.
Several large investors have recently bought and sold shares of the company. WFG Advisors LP lifted its stake in shares of Snap by 52.4% in the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock valued at $131,000 after purchasing an additional 2,537 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Snap in the 2nd quarter valued at approximately $267,000. Westwood Holdings Group Inc. bought a new stake in shares of Snap in the 2nd quarter valued at approximately $148,000. Highlander Capital Management LLC lifted its stake in shares of Snap by 5,500.0% in the 2nd quarter. Highlander Capital Management LLC now owns 11,200 shares of the company’s stock valued at $197,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Snap by 72.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 52,412 shares of the company’s stock valued at $931,000 after purchasing an additional 22,052 shares during the last quarter. 16.40% of the stock is owned by institutional investors and hedge funds.
Snap Company Profile
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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