Snap (NYSE:SNAP) CAO Rebecca Morrow Sells 7,000 Shares of Stock

by · The Cerbat Gem

Snap Inc. (NYSE:SNAP – Get Free Report) CAO Rebecca Morrow sold 7,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $7.33, for a total value of $51,310.00. Following the completion of the transaction, the chief accounting officer directly owned 490,054 shares in the company, valued at approximately $3,592,095.82. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rebecca Morrow also recently made the following trade(s):

  • On Wednesday, December 17th, Rebecca Morrow sold 3,783 shares of Snap stock. The shares were sold at an average price of $7.34, for a total transaction of $27,767.22.
  • On Tuesday, December 16th, Rebecca Morrow sold 3,090 shares of Snap stock. The stock was sold at an average price of $7.22, for a total transaction of $22,309.80.
  • On Monday, November 17th, Rebecca Morrow sold 12,699 shares of Snap stock. The stock was sold at an average price of $8.34, for a total value of $105,909.66.

Snap Price Performance

Snap stock traded up $0.26 during trading hours on Thursday, reaching $7.76. 9,231,183 shares of the stock were exchanged, compared to its average volume of 51,698,090. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 1.57. Snap Inc. has a twelve month low of $6.90 and a twelve month high of $13.28. The company has a market cap of $13.33 billion, a P/E ratio of -26.77 and a beta of 0.85. The stock has a 50 day moving average of $7.87 and a two-hundred day moving average of $8.15.

Snap (NYSE:SNAP – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company posted ($0.09) EPS. The business’s revenue was up 9.8% on a year-over-year basis. Equities analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Snap

Several large investors have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its position in shares of Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after buying an additional 1,581 shares during the last quarter. Signaturefd LLC boosted its holdings in Snap by 169.9% during the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock worth $26,000 after acquiring an additional 1,852 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Snap in the 3rd quarter worth $33,000. Quarry LP purchased a new stake in shares of Snap in the first quarter valued at about $34,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Snap during the first quarter valued at about $35,000. Institutional investors own 47.52% of the company’s stock.

Analyst Ratings Changes

SNAP has been the topic of a number of research reports. Mizuho assumed coverage on Snap in a research report on Monday, September 29th. They set a “neutral” rating and a $9.00 price objective on the stock. Morgan Stanley lowered their price objective on Snap from $8.50 to $8.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Piper Sandler lifted their target price on shares of Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Zacks Research cut shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Finally, New Street Research lowered shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, October 28th. Three equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.85.

View Our Latest Report 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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