Snap Inc. (NYSE:SNAP) insider Jared Grusd sold 33,128 shares of Snap stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $39.55, for a total value of $1,310,212.40. Following the transaction, the insider now directly owns 1,828,594 shares in the company, valued at approximately $72,320,892.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Jared Grusd also recently made the following trade(s):
- On Friday, October 16th, Jared Grusd sold 52,728 shares of Snap stock. The stock was sold at an average price of $28.03, for a total value of $1,477,965.84.
- On Wednesday, September 16th, Jared Grusd sold 52,642 shares of Snap stock. The stock was sold at an average price of $24.79, for a total value of $1,304,995.18.
Snap stock opened at $44.29 on Friday. The firm has a market capitalization of $65.99 billion, a P/E ratio of -59.05 and a beta of 1.52. The company has a current ratio of 5.99, a quick ratio of 5.99 and a debt-to-equity ratio of 0.74. The stock has a fifty day moving average price of $35.59 and a 200 day moving average price of $25.24. Snap Inc. has a 52 week low of $7.89 and a 52 week high of $45.60.
Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.19. Snap had a negative return on equity of 49.08% and a negative net margin of 57.18%. The company had revenue of $678.67 million during the quarter, compared to analyst estimates of $551.36 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The firm’s revenue was up 52.1% on a year-over-year basis. As a group, equities analysts predict that Snap Inc. will post -0.71 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. lifted its holdings in Snap by 266.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,100 shares of the company’s stock worth $26,000 after buying an additional 800 shares during the last quarter. San Francisco Sentry Investment Group CA bought a new position in Snap during the 3rd quarter worth approximately $26,000. Clear Harbor Asset Management LLC bought a new position in Snap during the 3rd quarter worth approximately $31,000. Jackson Square Capital LLC bought a new position in Snap during the 2nd quarter worth approximately $35,000. Finally, M&R Capital Management Inc. lifted its holdings in Snap by 160.0% during the 3rd quarter. M&R Capital Management Inc. now owns 1,625 shares of the company’s stock worth $42,000 after buying an additional 1,000 shares during the last quarter. 47.00% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on the company. JMP Securities lifted their price target on Snap from $28.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. Stifel Nicolaus boosted their target price on Snap from $32.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Canaccord Genuity reissued a “hold” rating and issued a $36.00 target price (up previously from $25.00) on shares of Snap in a report on Wednesday, October 21st. Barclays boosted their target price on Snap from $29.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, October 21st. Finally, Loop Capital boosted their target price on Snap from $27.00 to $49.00 and gave the company a “buy” rating in a report on Thursday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $33.38.
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 called Snaps. It also provides Camera, a tool to personalize and add context to Snaps; Chat that allows 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 surfacing the stories and shows from publishers, creators, and the community based on a user's subscriptions and interests.
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