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.
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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.
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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