Snap Inc (SNAP) Director Sells $327,000.00 in Stock

Snap Inc (NYSE:SNAP) Director Mitchell Lasky sold 25,000 shares of the company’s stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $13.08, for a total transaction of $327,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Mitchell Lasky also recently made the following trade(s):

  • On Tuesday, June 12th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $13.64, for a total transaction of $341,000.00.
  • On Tuesday, June 5th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $12.80, for a total transaction of $320,000.00.
  • On Tuesday, May 29th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $10.59, for a total transaction of $264,750.00.
  • On Tuesday, May 22nd, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $10.75, for a total transaction of $268,750.00.
  • On Tuesday, May 15th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $10.62, for a total transaction of $265,500.00.
  • On Tuesday, May 8th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $10.97, for a total transaction of $274,250.00.
  • On Tuesday, May 1st, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $14.05, for a total transaction of $351,250.00.
  • On Tuesday, April 24th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $15.67, for a total transaction of $391,750.00.
  • On Tuesday, April 17th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $14.79, for a total value of $369,750.00.
  • On Tuesday, April 10th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $14.37, for a total value of $359,250.00.

Snap opened at $13.20 on Friday, Marketbeat reports. Snap Inc has a twelve month low of $10.50 and a twelve month high of $21.22.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, May 1st. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.16. Snap had a negative return on equity of 49.23% and a negative net margin of 179.04%. The firm had revenue of $230.70 million during the quarter, compared to the consensus estimate of $244.57 million. During the same quarter in the prior year, the firm posted ($2.31) EPS. The business’s revenue was up 54.2% on a year-over-year basis. sell-side analysts anticipate that Snap Inc will post -1.15 earnings per share for the current fiscal year.

A number of brokerages have recently commented on SNAP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Snap in a research note on Wednesday, May 2nd. Evercore ISI cut Snap from an “in-line” rating to an “underperform” rating and set a $7.00 price target for the company. in a research note on Wednesday, May 2nd. Aegis cut Snap from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Cowen lowered their price target on Snap from $14.00 to $12.00 and set an “underperform” rating for the company in a research note on Friday, April 27th. Finally, Credit Suisse Group upped their price target on Snap from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, April 20th. Eleven equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $15.46.

A number of large investors have recently added to or reduced their stakes in SNAP. OppenheimerFunds Inc. boosted its position in Snap by 657.4% during the 1st quarter. OppenheimerFunds Inc. now owns 13,688,542 shares of the company’s stock worth $217,237,000 after acquiring an additional 11,881,245 shares during the last quarter. Coatue Management LLC boosted its holdings in shares of Snap by 16.1% in the 4th quarter. Coatue Management LLC now owns 27,390,619 shares of the company’s stock valued at $400,176,000 after buying an additional 3,791,168 shares during the last quarter. EMS Capital LP acquired a new stake in shares of Snap in the 4th quarter valued at approximately $41,200,000. Allianz Asset Management GmbH boosted its holdings in shares of Snap by 44.7% in the 1st quarter. Allianz Asset Management GmbH now owns 7,675,255 shares of the company’s stock valued at $121,806,000 after buying an additional 2,372,137 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Snap by 17.8% in the 4th quarter. BlackRock Inc. now owns 11,648,770 shares of the company’s stock valued at $170,188,000 after buying an additional 1,762,106 shares during the last quarter. 20.63% of the stock is owned by hedge funds and other institutional investors.

Snap Company Profile

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 to 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 to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.

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

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