Snap Inc (SNAP) Insider Jeremi Gorman Sells 56,609 Shares
Snap Inc (NYSE:SNAP) insider Jeremi Gorman sold 56,609 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $10.85, for a total transaction of $614,207.65. Following the completion of the sale, the insider now directly owns 3,061,689 shares of the company’s stock, valued at $33,219,325.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Jeremi Gorman also recently made the following trade(s):
- On Wednesday, February 20th, Jeremi Gorman sold 80,278 shares of Snap stock. The stock was sold at an average price of $9.25, for a total transaction of $742,571.50.
Shares of SNAP stock traded down $0.06 during mid-day trading on Thursday, reaching $10.88. The company’s stock had a trading volume of 290,404 shares, compared to its average volume of 27,274,356. Snap Inc has a 1-year low of $4.82 and a 1-year high of $16.86. The stock has a market cap of $14.04 billion, a price-to-earnings ratio of -11.21 and a beta of 1.14.
Several hedge funds have recently made changes to their positions in SNAP. Vanguard Group Inc raised its stake in shares of Snap by 57.6% in the 3rd quarter. Vanguard Group Inc now owns 47,237,907 shares of the company’s stock valued at $400,578,000 after buying an additional 17,260,731 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Snap by 57.6% in the 3rd quarter. Vanguard Group Inc. now owns 47,237,907 shares of the company’s stock worth $400,578,000 after purchasing an additional 17,260,731 shares during the last quarter. Hillhouse Capital Advisors Ltd. bought a new stake in shares of Snap in the 4th quarter worth about $38,157,000. WS Management Lllp bought a new stake in shares of Snap in the 4th quarter worth about $8,265,000. Finally, TB Alternative Assets Ltd. grew its holdings in shares of Snap by 511.4% in the 4th quarter. TB Alternative Assets Ltd. now owns 1,650,100 shares of the company’s stock worth $9,092,000 after purchasing an additional 1,380,200 shares during the last quarter. Institutional investors own 23.31% of the company’s stock.
Several equities analysts recently commented on SNAP shares. BTIG Research upgraded shares of Snap from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Thursday, March 14th. Consumer Edge started coverage on shares of Snap in a research note on Tuesday, March 12th. They set an “outperform” rating for the company. Zacks Investment Research upgraded shares of Snap from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Monday, February 18th. Royal Bank of Canada upped their target price on shares of Snap to $10.00 and gave the company a “market perform” rating in a research note on Wednesday, February 6th. Finally, Nomura upped their target price on shares of Snap from $6.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, February 6th. Four equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and six have assigned a buy rating to the stock. Snap presently has a consensus rating of “Hold” and an average price target of $8.85.
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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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