Andrew Vollero Sells 70,566 Shares of Snap Inc (SNAP) Stock

Snap Inc (NYSE:SNAP) CFO Andrew Vollero sold 70,566 shares of Snap stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $16.09, for a total transaction of $1,135,406.94. The transaction was disclosed in a filing with the SEC, which is available at this link.

Snap Inc (SNAP) opened at $15.50 on Thursday. Snap Inc has a 1 year low of $11.28 and a 1 year high of $29.44.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.17. Snap had a negative net margin of 463.16% and a negative return on equity of 107.36%. The business had revenue of $207.90 million for the quarter, compared to analysts’ expectations of $236.71 million. The company’s revenue for the quarter was up 62.2% compared to the same quarter last year. equities analysts expect that Snap Inc will post -3.04 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. WFG Advisors LP increased its position in Snap by 52.4% during the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock valued at $131,000 after acquiring an additional 2,537 shares during the last quarter. First Manhattan Co. increased its position in Snap by 384.5% during the third quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock valued at $110,000 after acquiring an additional 6,056 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in Snap during the second quarter valued at $148,000. Northwestern Mutual Wealth Management Co. increased its position in Snap by 9,588.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,688 shares of the company’s stock valued at $172,000 after acquiring an additional 9,588 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Snap by 8.3% during the second quarter. Pacer Advisors Inc. now owns 9,869 shares of the company’s stock valued at $175,000 after acquiring an additional 757 shares during the last quarter. Institutional investors and hedge funds own 18.88% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Vetr upgraded shares of Snap from a “strong sell” rating to a “hold” rating and set a $16.13 price objective on the stock in a research report on Friday, October 13th. Zacks Investment Research cut shares of Snap from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Drexel Hamilton reiterated a “buy” rating and set a $28.00 price objective on shares of Snap in a research report on Friday, December 15th. SunTrust Banks reiterated a “sell” rating and set a $10.00 price objective on shares of Snap in a research report on Thursday, October 12th. Finally, Deutsche Bank cut shares of Snap from a “buy” rating to a “hold” rating and reduced their price objective for the company from $20.00 to $17.00 in a research report on Monday, September 11th. Sixteen research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $16.86.

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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)

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