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

by · The Markets Daily

Snap Inc. (NYSE:SNAP – Get Free Report) CAO Rebecca Morrow sold 7,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $7.33, for a total transaction of $51,310.00. Following the completion of the transaction, the chief accounting officer owned 490,054 shares in the company, valued at $3,592,095.82. This trade represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 shares were 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 transaction of $105,909.66.

Snap Trading Up 1.7%

Shares of Snap stock opened at $7.63 on Friday. Snap Inc. has a 1-year low of $6.90 and a 1-year high of $13.28. The company’s fifty day simple moving average is $7.85 and its 200-day simple moving average is $8.14. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.67 and a quick ratio of 3.67. The stock has a market capitalization of $13.12 billion, a PE ratio of -26.31 and a beta of 0.85.

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

Institutional Investors Weigh In On Snap

Several institutional investors and hedge funds have recently modified their holdings of SNAP. Nuveen LLC purchased a new position in Snap during the first quarter valued at $1,675,000. Corient IA LLC purchased a new stake in Snap in the 1st quarter worth $131,000. Algert Global LLC bought a new position in shares of Snap during the 1st quarter valued at about $344,000. Korea Investment CORP grew its position in shares of Snap by 70.1% during the first quarter. Korea Investment CORP now owns 855,374 shares of the company’s stock valued at $7,450,000 after purchasing an additional 352,379 shares in the last quarter. Finally, Credit Agricole S A grew its position in shares of Snap by 30.0% during the first quarter. Credit Agricole S A now owns 77,581 shares of the company’s stock valued at $676,000 after purchasing an additional 17,921 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

SNAP has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Snap in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of Snap from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Piper Sandler lifted their price target on shares of Snap from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Mizuho began coverage on shares of Snap in a research note on Monday, September 29th. They issued a “neutral” rating and a $9.00 price objective for the company. Finally, Cantor Fitzgerald lifted their target price on shares of Snap from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Snap currently has an average rating of “Hold” and an average price target of $9.85.

View Our Latest Report on SNAP

Snap Company Profile

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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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