Snap Inc. (SNAP) VP Sells $3,590,603.28 in Stock

Snap Inc. (NYSE:SNAP) VP Steven Michael Horowitz sold 286,332 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $12.54, for a total value of $3,590,603.28. Following the completion of the sale, the vice president now owns 2,532,598 shares of the company’s stock, valued at $31,758,778.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Snap Inc. (SNAP) traded down $0.58 during mid-day trading on Monday, hitting $12.41. The stock had a trading volume of 30,656,625 shares, compared to its average volume of 25,558,277. Snap Inc. has a 1-year low of $11.28 and a 1-year high of $29.44.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.17. The business had revenue of $207.90 million for the quarter, compared to analysts’ expectations of $236.71 million. The business’s revenue for the quarter was up 62.2% compared to the same quarter last year. research analysts forecast that Snap Inc. will post -3.04 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this news story on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The legal version of this news story can be viewed at https://sportsperspectives.com/2017/11/20/snap-inc-snap-vp-sells-3590603-28-in-stock.html.

Hedge funds have recently modified their holdings of the company. Seven Bridges Advisors LLC purchased a new stake in shares of Snap during the second quarter worth about $101,000. First Manhattan Co. grew its stake in shares of Snap by 384.5% during the third quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock worth $110,000 after acquiring an additional 6,056 shares during the last quarter. WFG Advisors LP grew its stake in shares of Snap by 52.4% during the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after acquiring an additional 2,537 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Snap by 654.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company’s stock worth $134,000 after acquiring an additional 6,540 shares during the last quarter. Finally, Dubuque Bank & Trust Co. purchased a new stake in shares of Snap during the second quarter worth about $137,000. Institutional investors and hedge funds own 19.35% of the company’s stock.

A number of brokerages recently issued reports on SNAP. JMP Securities downgraded Snap from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $12.40 to $28.00 in a research report on Wednesday, November 15th. Monness Crespi & Hardt downgraded Snap from a “buy” rating to a “neutral” rating in a research report on Friday, August 11th. Bank of America Corporation reiterated a “neutral” rating and set a $17.00 target price (down from $20.00) on shares of Snap in a research report on Friday, August 11th. Aegis decreased their target price on Snap from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Wednesday, November 8th. Finally, Stifel Nicolaus decreased their target price on Snap from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 11th. Fifteen investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $17.12.

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