Michael J. O’sullivan Sells 36,621 Shares of Snap Inc (SNAP) Stock
Snap Inc (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 36,621 shares of Snap stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $11.28, for a total value of $413,084.88. Following the completion of the transaction, the general counsel now owns 1,746,578 shares of the company’s stock, valued at approximately $19,701,399.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
SNAP stock traded down $0.30 during trading on Monday, hitting $11.19. 19,727,353 shares of the company’s stock were exchanged, compared to its average volume of 27,033,076. The stock has a market cap of $15.40 billion, a price-to-earnings ratio of -11.54 and a beta of 1.17. Snap Inc has a 52-week low of $4.82 and a 52-week high of $14.47.
Snap (NYSE:SNAP) last posted its earnings results on Tuesday, April 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The business had revenue of $320.43 million for the quarter, compared to analysts’ expectations of $306.28 million. Snap had a negative return on equity of 47.71% and a negative net margin of 92.94%. Snap’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) EPS. Research analysts predict that Snap Inc will post -0.76 EPS for the current fiscal year.
Several brokerages have recently issued reports on SNAP. Zacks Investment Research cut Snap from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Vertical Group cut Snap from a “mixed” rating to a “negative” rating in a research note on Thursday, April 18th. Wedbush cut Snap from an “outperform” rating to a “neutral” rating and set a $12.25 price objective for the company. in a research note on Thursday, April 18th. Canaccord Genuity lifted their price objective on Snap from $9.50 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $11.00 price objective on shares of Snap in a research note on Wednesday, April 24th. Four research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $10.18.
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Snap Company Profile
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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