Snap Inc (SNAP) CAO Sells $11,998.47 in Stock

Snap Inc (NYSE:SNAP) CAO Lara Sweet sold 1,059 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $11.33, for a total value of $11,998.47. Following the completion of the sale, the chief accounting officer now directly owns 581,398 shares of the company’s stock, valued at approximately $6,587,239.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Lara Sweet also recently made the following trade(s):

  • On Wednesday, April 17th, Lara Sweet sold 60,233 shares of Snap stock. The shares were sold at an average price of $11.73, for a total value of $706,533.09.
  • On Friday, April 5th, Lara Sweet sold 22,818 shares of Snap stock. The shares were sold at an average price of $12.00, for a total value of $273,816.00.
  • On Monday, February 25th, Lara Sweet sold 22,818 shares of Snap stock. The shares were sold at an average price of $10.01, for a total value of $228,408.18.
  • On Wednesday, February 20th, Lara Sweet sold 11,701 shares of Snap stock. The shares were sold at an average price of $9.25, for a total value of $108,234.25.

SNAP stock opened at $11.54 on Wednesday. Snap Inc has a fifty-two week low of $4.82 and a fifty-two week high of $14.47. The company has a market cap of $15.40 billion, a price-to-earnings ratio of -11.90 and a beta of 1.17.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, April 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). Snap had a negative return on equity of 47.71% and a negative net margin of 92.94%. The firm had revenue of $320.43 million for the quarter, compared to analysts’ expectations of $306.28 million. During the same quarter last year, the company posted ($0.17) EPS. The firm’s revenue was up 38.9% on a year-over-year basis. As a group, sell-side analysts expect that Snap Inc will post -0.76 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of SNAP. Bank of New York Mellon Corp grew its holdings in shares of Snap by 97.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 479,423 shares of the company’s stock worth $4,066,000 after acquiring an additional 236,816 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Snap by 1,737.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,157,460 shares of the company’s stock worth $9,817,000 after acquiring an additional 1,094,467 shares during the period. Man Group plc grew its holdings in shares of Snap by 83.3% during the 3rd quarter. Man Group plc now owns 66,910 shares of the company’s stock worth $567,000 after acquiring an additional 30,401 shares during the period. Vanguard Group Inc grew its holdings in shares of Snap by 57.6% during the 3rd quarter. Vanguard Group Inc now owns 47,237,907 shares of the company’s stock worth $400,578,000 after acquiring an additional 17,260,731 shares during the period. Finally, FNY Investment Advisers LLC grew its holdings in shares of Snap by 306.5% during the 4th quarter. FNY Investment Advisers LLC now owns 5,000 shares of the company’s stock worth $27,000 after acquiring an additional 3,770 shares during the period. Hedge funds and other institutional investors own 22.95% of the company’s stock.

A number of research firms have commented on SNAP. ValuEngine raised Snap from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Zacks Investment Research lowered Snap from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. UBS Group upped their price target on Snap from $6.00 to $8.00 and gave the company a “sell” rating in a research report on Wednesday, April 24th. Stifel Nicolaus upped their price target on Snap from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, April 24th. Finally, Barclays upped their price target on Snap from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $10.18.

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About Snap

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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