Snap Inc. (NYSE:SNAP) CEO Sells $24,998,850.87 in Stock

Snap Inc. (NYSE:SNAP) CEO Evan Spiegel sold 414,781 shares of Snap stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $60.27, for a total value of $24,998,850.87. Following the completion of the transaction, the chief executive officer now owns 44,681,317 shares of the company’s stock, valued at $2,692,942,975.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Evan Spiegel also recently made the following trade(s):

  • On Friday, June 4th, Evan Spiegel sold 411,250 shares of Snap stock. The stock was sold at an average price of $60.80, for a total value of $25,004,000.00.
  • On Wednesday, June 2nd, Evan Spiegel sold 403,784 shares of Snap stock. The stock was sold at an average price of $61.91, for a total value of $24,998,267.44.
  • On Monday, April 26th, Evan Spiegel sold 250,000 shares of Snap stock. The stock was sold at an average price of $60.63, for a total value of $15,157,500.00.

NYSE SNAP opened at $62.63 on Friday. Snap Inc. has a twelve month low of $19.61 and a twelve month high of $73.59. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.31 and a current ratio of 4.31. The stock has a market cap of $95.42 billion, a PE ratio of -97.86 and a beta of 1.26. The business’s 50 day moving average price is $58.75.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, April 22nd. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.02. Snap had a negative net margin of 32.90% and a negative return on equity of 43.12%. The firm had revenue of $769.58 million for the quarter, compared to analysts’ expectations of $739.61 million. During the same period in the previous year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 66.4% compared to the same quarter last year. On average, equities research analysts expect that Snap Inc. will post -0.48 earnings per share for the current fiscal year.

A number of brokerages have issued reports on SNAP. Bank of America reissued a “neutral” rating and issued a $67.00 target price (down previously from $78.00) on shares of Snap in a report on Monday, March 29th. Canaccord Genuity raised their target price on shares of Snap from $62.00 to $76.00 and gave the stock a “hold” rating in a report on Tuesday, March 2nd. Atlantic Securities raised shares of Snap from a “neutral” rating to an “overweight” rating and set a $75.00 target price on the stock in a report on Tuesday, April 6th. KeyCorp cut their target price on shares of Snap from $87.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, April 23rd. Finally, Cowen raised their target price on shares of Snap from $86.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, April 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $67.33.

A number of hedge funds and other institutional investors have recently bought and sold shares of SNAP. Comerica Bank purchased a new position in Snap during the 4th quarter worth approximately $207,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Snap during the 4th quarter valued at $498,000. California Public Employees Retirement System boosted its stake in shares of Snap by 6.1% during the 4th quarter. California Public Employees Retirement System now owns 2,151,557 shares of the company’s stock valued at $107,728,000 after buying an additional 123,610 shares during the period. Ieq Capital LLC acquired a new stake in shares of Snap during the 4th quarter valued at $1,502,000. Finally, Must Asset Management Inc. acquired a new stake in shares of Snap during the 4th quarter valued at $1,926,000. Hedge funds and other institutional investors own 52.82% of the company’s stock.

Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures video from a human perspective; and advertising products, including AR and Snap ads.

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Insider Buying and Selling by Quarter for Snap (NYSE:SNAP)

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