Insider Selling: Snap Inc (NYSE:SNAP) Insider Sells $457,432.28 in Stock

Snap Inc (NYSE:SNAP) insider Jared Grusd sold 30,659 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $14.92, for a total value of $457,432.28. Following the completion of the transaction, the insider now directly owns 2,584,463 shares of the company’s stock, valued at $38,560,187.96. The sale was disclosed in a filing with the SEC, which is available at this link.

Jared Grusd also recently made the following trade(s):

  • On Monday, June 17th, Jared Grusd sold 30,875 shares of Snap stock. The stock was sold at an average price of $13.79, for a total value of $425,766.25.
  • On Monday, May 20th, Jared Grusd sold 61,534 shares of Snap stock. The stock was sold at an average price of $11.31, for a total value of $695,949.54.
  • On Tuesday, April 16th, Jared Grusd sold 30,793 shares of Snap stock. The stock was sold at an average price of $11.72, for a total value of $360,893.96.

SNAP stock opened at $14.56 on Monday. Snap Inc has a fifty-two week low of $4.82 and a fifty-two week high of $15.00. The firm has a market cap of $19.51 billion, a P/E ratio of -15.01 and a beta of 0.84. The company has a quick ratio of 4.75, a current ratio of 4.75 and a debt-to-equity ratio of 0.15.

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

Several large investors have recently bought and sold shares of the company. TCI Wealth Advisors Inc. boosted its position in shares of Snap by 70.0% in the 1st quarter. TCI Wealth Advisors Inc. now owns 3,400 shares of the company’s stock worth $37,000 after purchasing an additional 1,400 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Snap by 8.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 18,403 shares of the company’s stock worth $203,000 after purchasing an additional 1,450 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Snap by 8.8% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,057 shares of the company’s stock worth $199,000 after purchasing an additional 1,463 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Snap by 13.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,458 shares of the company’s stock worth $80,000 after purchasing an additional 1,665 shares during the last quarter. Finally, Providence Capital Advisors LLC bought a new position in shares of Snap in the 1st quarter worth $32,000. Institutional investors and hedge funds own 26.08% of the company’s stock.

A number of equities analysts have recently issued reports on the company. ValuEngine raised Snap from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Barclays increased their target price on Snap from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Stifel Nicolaus reissued a “hold” rating and issued a $10.00 target price on shares of Snap in a report on Friday, April 5th. Wedbush cut Snap from an “outperform” rating to a “neutral” rating and set a $12.25 target price for the company. in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. raised Snap from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $7.00 to $11.00 in a report on Wednesday, April 24th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $11.18.

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

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