Snap Inc (NYSE:SNAP) VP Jerry James Hunter sold 97,656 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $12.23, for a total value of $1,194,332.88. Following the completion of the sale, the vice president now owns 1,864,934 shares in the company, valued at approximately $22,808,142.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
SNAP opened at $11.73 on Tuesday. The stock has a market capitalization of $15.63 billion, a PE ratio of -5.64 and a beta of -2.73. Snap Inc has a 12 month low of $10.50 and a 12 month high of $21.22.
Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, August 7th. The company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.18. The firm 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%. research analysts expect that Snap Inc will post -1.07 EPS for the current year.
A number of equities research analysts recently issued reports on the company. Wedbush set a $13.00 price objective on Snap and gave the stock a “hold” rating in a research report on Friday, April 27th. Cowen lowered their price objective on Snap from $14.00 to $12.00 and set an “underperform” rating on the stock in a research report on Friday, April 27th. Deutsche Bank increased their price objective on Snap to $15.00 and gave the stock a “hold” rating in a research report on Monday, April 30th. Oppenheimer reiterated a “market perform” rating and issued a $14.00 price objective on shares of Snap in a research report on Wednesday, May 2nd. Finally, Jefferies Financial Group lowered their price objective on Snap to $14.00 and set a “hold” rating on the stock in a research report on Wednesday, May 2nd. Eleven equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have issued a buy rating to the stock. Snap presently has an average rating of “Hold” and an average price target of $14.79.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. increased its holdings in shares of Snap by 171.4% in 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 during the period. FMR LLC increased its holdings in shares of Snap by 18.4% in 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 during the period. Morgan Stanley increased its holdings in shares of Snap by 15.3% in 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 during the period. BlackRock Inc. increased its holdings in shares of Snap by 22.1% in 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 during the period. Finally, Hillhouse Capital Management Ltd. increased its holdings in shares of Snap by 81.1% in 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 during the period. Hedge funds and other institutional investors own 21.41% of the company’s stock.
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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