Snap Inc. (NYSE:SNAP) CEO Sells $1,327,500.00 in Stock

Snap Inc. (NYSE:SNAP) CEO Evan Spiegel sold 150,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total value of $1,327,500.00. Following the completion of the sale, the chief executive officer now owns 3,327,844 shares of the company’s stock, valued at approximately $29,451,419.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Snap Trading Up 7.8 %

Shares of Snap stock traded up $0.65 during trading on Thursday, hitting $8.94. 30,762,815 shares of the company were exchanged, compared to its average volume of 28,374,824. The firm has a market capitalization of $14.67 billion, a P/E ratio of -11.04 and a beta of 1.03. The firm’s fifty day moving average price is $14.69 and its 200 day moving average price is $13.65. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76. Snap Inc. has a 1-year low of $8.28 and a 1-year high of $17.90.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SNAP. NBC Securities Inc. grew its stake in Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after acquiring an additional 1,445 shares during the period. Blue Trust Inc. grew its position in shares of Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC acquired a new position in shares of Snap in the 2nd quarter valued at approximately $40,000. Allworth Financial LP increased its stake in Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares in the last quarter. Finally, J.Safra Asset Management Corp raised its holdings in Snap by 534.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock worth $46,000 after buying an additional 2,330 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SNAP shares. Royal Bank of Canada lifted their price objective on shares of Snap from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Wolfe Research initiated coverage on Snap in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Truist Financial decreased their target price on Snap from $16.00 to $13.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Benchmark reiterated a “hold” rating on shares of Snap in a research note on Tuesday. Finally, Rosenblatt Securities boosted their target price on shares of Snap from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.23.

About Snap

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.