Snap Inc (NYSE:SNAP) CEO Evan Spiegel Sells 369,308 Shares
Snap Inc (NYSE:SNAP) CEO Evan Spiegel sold 369,308 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $18.00, for a total transaction of $6,647,544.00. Following the transaction, the chief executive officer now directly owns 62,562,271 shares in the company, valued at approximately $1,126,120,878. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Evan Spiegel also recently made the following trade(s):
- On Wednesday, January 15th, Evan Spiegel sold 132,700 shares of Snap stock. The shares were sold at an average price of $18.04, for a total transaction of $2,393,908.00.
- On Monday, December 2nd, Evan Spiegel sold 1,537,712 shares of Snap stock. The shares were sold at an average price of $14.62, for a total transaction of $22,481,349.44.
Snap stock opened at $18.19 on Thursday. Snap Inc has a 52-week low of $5.63 and a 52-week high of $18.52. The firm has a fifty day moving average of $15.80 and a 200-day moving average of $15.50. The firm has a market capitalization of $25.19 billion, a P/E ratio of -18.75 and a beta of 1.11. The company has a quick ratio of 7.25, a current ratio of 7.25 and a debt-to-equity ratio of 0.50.
Several equities analysts recently issued reports on the stock. Aegis assumed coverage on shares of Snap in a research note on Wednesday, December 11th. They set a “buy” rating and a $24.00 price objective on the stock. MKM Partners started coverage on shares of Snap in a research note on Friday, October 18th. They set a “neutral” rating and a $16.00 price target on the stock. Jefferies Financial Group raised shares of Snap from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Thursday, January 9th. Moffett Nathanson increased their price target on shares of Snap from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Finally, Wedbush increased their price target on shares of Snap from $14.75 to $15.25 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $17.74.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Optimum Investment Advisors acquired a new stake in Snap during the 3rd quarter valued at $32,000. Cascade Investment Advisors Inc. grew its holdings in Snap by 60.3% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 2,325 shares of the company’s stock valued at $37,000 after purchasing an additional 875 shares in the last quarter. Lenox Wealth Advisors LLC grew its holdings in Snap by 7,446.8% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 3,547 shares of the company’s stock valued at $56,000 after purchasing an additional 3,500 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Snap during the 3rd quarter valued at $58,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Snap during the 2nd quarter valued at $72,000. 32.78% of the stock is owned by institutional investors and hedge funds.
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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