Snap Inc (NYSE:SNAP) CFO Timothy R. Stone sold 13,608 shares of the stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $7.12, for a total value of $96,888.96. Following the transaction, the chief financial officer now directly owns 1,206,997 shares of the company’s stock, valued at $8,593,818.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of NYSE:SNAP opened at $6.81 on Friday. Snap Inc has a 1 year low of $6.46 and a 1 year high of $21.22.
Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.18. The business had revenue of $262.26 million for the quarter, compared to the consensus estimate of $247.24 million. Snap had a negative return on equity of 49.79% and a negative net margin of 155.31%. On average, analysts anticipate that Snap Inc will post -1.06 earnings per share for the current year.
SNAP has been the topic of several research analyst reports. Goldman Sachs Group dropped their price objective on Snap from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, October 11th. Pivotal Research upgraded Snap from a “hold” rating to a “buy” rating and dropped their price objective for the company from $9.00 to $8.00 in a research note on Friday, October 12th. Zacks Investment Research upgraded Snap from a “sell” rating to a “hold” rating and set a $14.00 price objective on the stock in a research note on Friday, August 10th. SunTrust Banks restated a “hold” rating and issued a $13.00 price objective on shares of Snap in a research note on Monday, August 6th. Finally, Wedbush restated a “hold” rating and issued a $10.00 price objective on shares of Snap in a research note on Friday, August 3rd. Ten research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.66.
A number of large investors have recently modified their holdings of the stock. OppenheimerFunds Inc. grew its position in Snap by 171.4% during the second quarter. OppenheimerFunds Inc. now owns 37,157,073 shares of the company’s stock worth $486,385,000 after buying an additional 23,468,531 shares in the last quarter. FMR LLC grew its position in Snap by 18.4% during the second quarter. FMR LLC now owns 24,968,882 shares of the company’s stock worth $326,842,000 after buying an additional 3,886,373 shares in the last quarter. Morgan Stanley grew its position in Snap by 15.3% during the second quarter. Morgan Stanley now owns 16,014,841 shares of the company’s stock worth $209,635,000 after buying an additional 2,123,727 shares in the last quarter. BlackRock Inc. grew its position in Snap by 22.1% during the second quarter. BlackRock Inc. now owns 15,367,441 shares of the company’s stock worth $201,159,000 after buying an additional 2,779,756 shares in the last quarter. Finally, Hillhouse Capital Management Ltd. grew its position in Snap by 81.1% during the second quarter. Hillhouse Capital Management Ltd. now owns 10,989,529 shares of the company’s stock worth $143,853,000 after buying an additional 4,921,688 shares in the last quarter. 22.29% of the stock is currently owned by institutional investors and hedge funds.
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.
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