Insider Selling: Snap Inc (NYSE:SNAP) Director Sells 25,000 Shares of Stock

Snap Inc (NYSE:SNAP) Director Mitchell Lasky sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $12.38, for a total value of $309,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mitchell Lasky also recently made the following trade(s):

  • On Tuesday, November 28th, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $13.41, for a total value of $335,250.00.
  • On Tuesday, November 14th, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $12.53, for a total value of $313,250.00.

Snap Inc (NYSE:SNAP) opened at $14.94 on Wednesday. Snap Inc has a 12-month low of $11.28 and a 12-month high of $29.44.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, November 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.17. The firm had revenue of $207.90 million during the quarter, compared to analyst estimates of $236.71 million. The company’s revenue for the quarter was up 62.2% on a year-over-year basis. equities research analysts anticipate that Snap Inc will post -3.04 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of SNAP. Seven Bridges Advisors LLC acquired a new position in shares of Snap in the 2nd quarter worth approximately $101,000. First Manhattan Co. grew its position in shares of Snap by 384.5% in the 3rd quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock worth $110,000 after acquiring an additional 6,056 shares in the last quarter. WFG Advisors LP grew its position in shares of Snap by 52.4% in the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after acquiring an additional 2,537 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Snap by 654.0% in the 2nd 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 in the last quarter. Finally, Nelson Roberts Investment Advisors LLC grew its position in shares of Snap by 10,033.0% in the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 10,133 shares of the company’s stock worth $147,000 after acquiring an additional 10,033 shares in the last quarter. Institutional investors own 18.88% of the company’s stock.

A number of research firms have recently commented on SNAP. Vetr upgraded Snap from a “strong sell” rating to a “hold” rating and set a $16.13 price objective on the stock in a report on Friday, October 13th. Zacks Investment Research downgraded Snap from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. SunTrust Banks reiterated a “sell” rating and set a $10.00 target price on shares of Snap in a report on Thursday, October 12th. Deutsche Bank downgraded Snap from a “buy” rating to a “hold” rating and dropped their target price for the company from $20.00 to $17.00 in a report on Monday, September 11th. Finally, Royal Bank Of Canada downgraded Snap from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $20.00 to $15.00 in a report on Wednesday, November 8th. Sixteen investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $17.11.

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Snap Company Profile

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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