Insider Selling: Snap Inc (NYSE:SNAP) Insider Sells $1,869,000.00 in Stock

Snap Inc (NYSE:SNAP) insider Imran Khan sold 150,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $12.46, for a total value of $1,869,000.00. Following the completion of the transaction, the insider now directly owns 10,122,665 shares in the company, valued at $126,128,405.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Imran Khan also recently made the following trade(s):

  • On Wednesday, August 23rd, Imran Khan sold 350,000 shares of Snap stock. The shares were sold at an average price of $15.00, for a total value of $5,250,000.00.

Shares of Snap Inc (SNAP) traded down $0.30 during midday trading on Monday, hitting $13.57. The company had a trading volume of 28,781,353 shares, compared to its average volume of 25,370,357. Snap Inc has a 52-week low of $11.28 and a 52-week high of $29.44.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.17. The business had revenue of $207.90 million during the quarter, compared to analysts’ expectations of $236.71 million. The business’s revenue for the quarter was up 62.2% on a year-over-year basis. analysts anticipate that Snap Inc will post -3.04 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new stake in shares of Snap during the first quarter valued at $525,000. Vanguard Group Inc. acquired a new position in Snap during the first quarter valued at $152,135,000. Credit Suisse AG acquired a new position in Snap during the first quarter valued at $799,000. NN Investment Partners Holdings N.V. raised its position in Snap by 6.3% during the second quarter. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company’s stock valued at $754,000 after buying an additional 2,530 shares during the period. Finally, Malaga Cove Capital LLC acquired a new position in Snap in the 2nd quarter worth about $324,000. Hedge funds and other institutional investors own 18.88% of the company’s stock.

A number of analysts have commented on SNAP shares. Deutsche Bank reiterated a “hold” rating and issued a $11.00 price objective on shares of Snap in a research report on Thursday. Wells Fargo & Company reissued a “hold” rating on shares of Snap in a research note on Wednesday, November 29th. JMP Securities lowered Snap from an “outperform” rating to a “market perform” rating in a report on Sunday, November 26th. Cowen reiterated a “hold” rating and set a $12.00 target price on shares of Snap in a report on Friday, November 10th. Finally, Canaccord Genuity downgraded Snap from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Fifteen investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $16.98.

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About Snap

Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.

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

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