Snap Inc (NYSE:SNAP) insider Imran Khan sold 100,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $15.00, for a total value of $1,500,000.00. Following the sale, the insider now directly owns 10,005,173 shares of the company’s stock, valued at $150,077,595. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Imran Khan also recently made the following trade(s):
- On Wednesday, November 15th, Imran Khan sold 150,000 shares of Snap stock. The shares were sold at an average price of $12.46, for a total value of $1,869,000.00.
Shares of Snap Inc (NYSE:SNAP) opened at $15.07 on Friday. Snap Inc has a 12-month low of $11.28 and a 12-month high of $29.44.
Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.17. The business had revenue of $207.90 million for the quarter, compared to the consensus estimate of $236.71 million. The company’s revenue was up 62.2% on a year-over-year basis. sell-side analysts forecast that Snap Inc will post -3.04 EPS for the current year.
SNAP has been the subject of several recent research reports. J P Morgan Chase & Co reissued a “neutral” rating and issued a $14.00 price objective (down previously from $16.00) on shares of Snap in a report on Monday, September 25th. Barclays raised Snap from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $11.00 to $18.00 in a report on Tuesday. Wedbush initiated coverage on Snap in a report on Wednesday, August 30th. They issued a “neutral” rating and a $12.00 price objective for the company. Evercore ISI initiated coverage on Snap in a report on Tuesday. They issued an “underperform” rating and a $7.00 price objective for the company. Finally, Monness Crespi & Hardt lowered Snap from a “buy” rating to a “neutral” rating in a report on Friday, August 11th. Sixteen investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have assigned a buy rating to the company. Snap presently has a consensus rating of “Hold” and a consensus price target of $16.88.
Several institutional investors and hedge funds have recently modified their holdings of SNAP. First Trust Advisors LP lifted its position in Snap by 873.8% in the 3rd quarter. First Trust Advisors LP now owns 5,884,101 shares of the company’s stock worth $85,555,000 after buying an additional 5,279,883 shares during the last quarter. Valiant Capital Management L.P. lifted its position in Snap by 379.1% in the 3rd quarter. Valiant Capital Management L.P. now owns 3,215,300 shares of the company’s stock worth $46,750,000 after buying an additional 2,544,200 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Snap by 73.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 4,529,005 shares of the company’s stock worth $65,852,000 after buying an additional 1,916,830 shares during the last quarter. Vanguard Group Inc. lifted its position in Snap by 23.7% in the 2nd quarter. Vanguard Group Inc. now owns 8,353,729 shares of the company’s stock worth $148,446,000 after buying an additional 1,601,170 shares during the last quarter. Finally, State Treasurer State of Michigan bought a new stake in Snap in the 3rd quarter worth approximately $15,714,000. Hedge funds and other institutional investors own 18.88% of the company’s stock.
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Snap Company Profile
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.
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