Snap Inc (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $16.84, for a total transaction of $311,540.00. Following the sale, the general counsel now directly owns 1,546,890 shares of the company’s stock, valued at $26,049,627.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NYSE:SNAP traded down $0.15 during trading on Thursday, hitting $16.75. 15,870,213 shares of the company were exchanged, compared to its average volume of 21,111,806. The business’s 50 day moving average is $16.19 and its 200-day moving average is $13.42. The company has a market capitalization of $21.74 billion, a P/E ratio of -17.26 and a beta of 1.12. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15. Snap Inc has a 1-year low of $4.82 and a 1-year high of $18.36.
Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.02. The company had revenue of $388.02 million during the quarter, compared to the consensus estimate of $358.16 million. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The company’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.14) earnings per share. As a group, sell-side analysts anticipate that Snap Inc will post -0.71 earnings per share for the current year.
A number of analysts have recently issued reports on SNAP shares. Aegis reissued a “buy” rating and issued a $19.00 price objective (up from $17.00) on shares of Snap in a research note on Wednesday, July 24th. Royal Bank of Canada reissued a “buy” rating and issued a $20.00 price objective on shares of Snap in a research note on Wednesday, July 24th. Credit Suisse Group increased their price objective on shares of Snap from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. SunTrust Banks increased their price objective on shares of Snap from $11.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Nomura increased their price objective on shares of Snap from $10.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and fourteen have given a buy rating to the stock. Snap presently has an average rating of “Hold” and a consensus price target of $15.46.
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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