Snap Inc (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 52,465 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.07, for a total transaction of $843,112.55. Following the sale, the general counsel now directly owns 1,583,890 shares in the company, valued at $25,453,112.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Snap stock opened at $16.08 on Friday. The company has a fifty day simple moving average of $16.03 and a 200-day simple moving average of $12.53. Snap Inc has a 12-month low of $4.82 and a 12-month high of $18.36. The company has a current ratio of 4.53, a quick ratio of 4.53 and a debt-to-equity ratio of 0.15. The stock has a market cap of $22.29 billion, a price-to-earnings ratio of -16.58 and a beta of 1.10.
Snap (NYSE:SNAP) last issued its earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.02. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The business had revenue of $388.02 million during the quarter, compared to analysts’ expectations of $358.16 million. During the same quarter in the prior year, the business posted ($0.14) EPS. The company’s revenue for the quarter was up 48.0% on a year-over-year basis. On average, analysts forecast that Snap Inc will post -0.71 earnings per share for the current fiscal year.
Several brokerages recently weighed in on SNAP. Deutsche Bank upped their target price on shares of Snap from $13.00 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Jefferies Financial Group upped their target price on shares of Snap from $13.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Goldman Sachs Group raised shares of Snap from a “neutral” rating to a “buy” rating and upped their target price for the stock from $13.00 to $18.00 in a research note on Friday, July 12th. Credit Suisse Group upped their target price 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. Finally, Moffett Nathanson reaffirmed a “neutral” rating and set a $10.00 target price (up from $8.00) on shares of Snap in a research note on Monday, July 1st. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $14.88.
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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