Snap Inc (SNAP) CFO Andrew Vollero Sells 70,566 Shares
Snap Inc (NYSE:SNAP) CFO Andrew Vollero sold 70,566 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $16.09, for a total value of $1,135,406.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Snap Inc (NYSE SNAP) traded down $0.33 during midday trading on Wednesday, hitting $15.77. The company had a trading volume of 12,419,100 shares, compared to its average volume of 25,288,178. Snap Inc has a one year low of $11.28 and a one year high of $29.44.
Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.17. Snap had a negative return on equity of 107.36% and a negative net margin of 463.16%. The company had revenue of $207.90 million for the quarter, compared to analyst estimates of $236.71 million. The firm’s quarterly revenue was up 62.2% compared to the same quarter last year. research analysts predict that Snap Inc will post -3.04 EPS for the current fiscal year.
Several research analysts have recently weighed in on SNAP shares. Vetr upgraded Snap from a “hold” rating to a “strong-buy” rating and set a $18.29 price target for the company in a research note on Thursday, October 19th. Drexel Hamilton restated a “buy” rating and issued a $30.00 target price on shares of Snap in a research note on Thursday, September 14th. Morgan Stanley downgraded Snap from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 9th. Cantor Fitzgerald restated a “buy” rating and issued a $17.00 target price (up previously from $15.00) on shares of Snap in a research note on Friday, September 15th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $20.00 target price on shares of Snap in a research note on Sunday, October 8th. Sixteen analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eleven have issued a buy rating to the company’s stock. Snap currently has an average rating of “Hold” and a consensus price target of $16.86.
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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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