Snap Inc. (NYSE:SNAP) CEO Sells $1,666,500.00 in Stock

Snap Inc. (NYSE:SNAPGet Free Report) CEO Evan Spiegel sold 150,000 shares of Snap stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $11.11, for a total value of $1,666,500.00. Following the sale, the chief executive officer now directly owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Snap Trading Up 4.7 %

Shares of NYSE SNAP traded up $0.53 during mid-day trading on Monday, reaching $11.64. The company had a trading volume of 65,712,556 shares, compared to its average volume of 36,095,578. The stock has a market cap of $19.16 billion, a price-to-earnings ratio of -14.02 and a beta of 1.28. Snap Inc. has a 52 week low of $7.86 and a 52 week high of $17.90. The business’s 50-day moving average is $16.02 and its 200-day moving average is $12.23. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. NBC Securities Inc. grew its position in shares of Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after buying an additional 1,445 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in Snap during the 4th quarter worth about $29,000. Newbridge Financial Services Group Inc. grew its holdings in Snap by 75.0% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock worth $31,000 after acquiring an additional 1,500 shares in the last quarter. NVP Associates LLC bought a new stake in shares of Snap in the 2nd quarter valued at about $41,000. Finally, Allworth Financial LP raised its holdings in shares of Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares in the last quarter. Institutional investors own 44.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Susquehanna raised their target price on shares of Snap from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Roth Mkm lifted their target price on Snap from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. China Renaissance upgraded Snap from a “sell” rating to a “hold” rating and set a $9.00 target price on the stock in a research report on Thursday, October 26th. Guggenheim upgraded Snap from a “neutral” rating to a “buy” rating and raised their price target for the company from $9.00 to $23.00 in a report on Monday, December 18th. Finally, Piper Sandler upped their price objective on Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.70.

Get Our Latest Stock Analysis on SNAP

About Snap

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Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.

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

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