Insider Selling: Snap (NYSE:SNAP) CAO Sells $22,309.80 in Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 3,090 shares of Snap stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $7.22, for a total value of $22,309.80. Following the completion of the sale, the chief accounting officer directly owned 486,964 shares of the company’s stock, valued at $3,515,880.08. The trade was a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Rebecca Morrow also recently made the following trade(s):

• On Wednesday, December 17th, Rebecca Morrow sold 3,783 shares of Snap stock. The stock was sold at an average price of $7.34, for a total value of $27,767.22.
• On Monday, December 15th, Rebecca Morrow sold 7,000 shares of Snap stock. The shares were sold at an average price of $7.33, for a total value of $51,310.00.
• On Monday, November 17th, Rebecca Morrow sold 12,699 shares of Snap stock. The shares were sold at an average price of $8.34, for a total transaction of $105,909.66.

Snap Stock Performance

Shares of NYSE:SNAP traded up $0.10 during trading on Wednesday, hitting $7.47. The company’s stock had a trading volume of 61,684,349 shares, compared to its average volume of 33,953,224. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.67 and a quick ratio of 3.67. The company has a 50-day moving average of $7.87 and a 200-day moving average of $8.15. Snap Inc. has a 12 month low of $6.90 and a 12 month high of $13.28.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm posted ($0.09) earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Snap

Several institutional investors have recently bought and sold shares of SNAP. Capital World Investors increased its holdings in Snap by 1.5% in the 3rd quarter. Capital World Investors now owns 87,272,463 shares of the company’s stock valued at $672,896,000 after acquiring an additional 1,316,448 shares during the last quarter. Capital International Investors grew its position in shares of Snap by 0.3% during the third quarter. Capital International Investors now owns 37,780,205 shares of the company’s stock valued at $291,285,000 after purchasing an additional 95,989 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Snap during the third quarter valued at about $176,697,000. AQR Capital Management LLC increased its holdings in shares of Snap by 110.4% in the first quarter. AQR Capital Management LLC now owns 11,300,874 shares of the company’s stock worth $95,549,000 after purchasing an additional 5,930,766 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its position in shares of Snap by 53.3% in the third quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock worth $79,420,000 after buying an additional 3,582,223 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNAP has been the subject of several analyst reports. UBS Group upped their price objective on Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a report on Wednesday, October 8th. Truist Financial upped their price target on Snap from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Guggenheim reissued a “neutral” rating and issued a $8.00 price objective on shares of Snap in a research note on Friday, September 12th. Finally, Arete Research upgraded shares of Snap from a “sell” rating to a “neutral” rating in a research report on Tuesday, November 18th. Three research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.85.

Snap Company Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.