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.

ILLEGAL ACTIVITY NOTICE: This report was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2017/12/04/imran-khan-sells-150000-shares-of-snap-inc-snap-stock.html.

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)

Receive News & Ratings for Snap Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply