Snap Inc. (NYSE:SNAP) Director Mitchell Lasky sold 25,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $12.53, for a total value of $313,250.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Snap Inc. (SNAP) opened at $12.99 on Friday. Snap Inc. has a 12-month low of $11.28 and a 12-month high of $29.44.
Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.17. The company had revenue of $207.90 million for the quarter, compared to the consensus estimate of $236.71 million. The firm’s quarterly revenue was up 62.2% compared to the same quarter last year. sell-side analysts expect that Snap Inc. will post -3.04 EPS for the current year.
Several research firms recently weighed in on SNAP. SunTrust Banks, Inc. began coverage on Snap in a report on Tuesday, August 15th. They set a “sell” rating and a $10.00 price target on the stock. Zacks Investment Research upgraded Snap from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Citigroup Inc. restated a “neutral” rating and set a $13.00 price target (down previously from $19.00) on shares of Snap in a report on Thursday, August 10th. Summit Redstone restated a “sell” rating and set a $8.00 price target (down previously from $10.00) on shares of Snap in a report on Friday, August 11th. Finally, Credit Suisse Group decreased their price target on Snap from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 8th. Fifteen equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $17.12.
A number of hedge funds and other institutional investors have recently modified their holdings of SNAP. Vanguard Group Inc. acquired a new stake in Snap in the first quarter worth about $152,135,000. First Trust Advisors LP boosted its holdings in Snap by 873.8% in the third quarter. First Trust Advisors LP now owns 5,884,101 shares of the company’s stock worth $85,555,000 after acquiring an additional 5,279,883 shares in the last quarter. Valiant Capital Management L.P. boosted its holdings in Snap by 379.1% in the third quarter. Valiant Capital Management L.P. now owns 3,215,300 shares of the company’s stock worth $46,750,000 after acquiring an additional 2,544,200 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Snap by 2,592.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,533,820 shares of the company’s stock worth $45,025,000 after acquiring an additional 2,439,725 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Snap by 73.4% in the third quarter. Allianz Asset Management GmbH now owns 4,529,005 shares of the company’s stock worth $65,852,000 after acquiring an additional 1,916,830 shares in the last quarter. 17.33% of the stock is owned by institutional investors and hedge funds.
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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