Insider Selling: Snap Inc. (SNAP) Director Sells $313,250.00 in Stock

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.

ILLEGAL ACTIVITY WARNING: “Insider Selling: Snap Inc. (SNAP) Director Sells $313,250.00 in Stock” was reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://sportsperspectives.com/2017/11/19/insider-selling-snap-inc-snap-director-sells-313250-00-in-stock.html.

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.

About Snap

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.

Insider Buying and Selling by Quarter for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply