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

Snap Inc. (NYSE:SNAP) Director Mitchell Lasky sold 25,000 shares of the business’s stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $15.67, for a total value of $391,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Tuesday, May 15th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $10.62, for a total value of $265,500.00.
  • On Tuesday, May 8th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $10.97, for a total value of $274,250.00.
  • On Tuesday, May 1st, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $14.05, for a total value of $351,250.00.
  • On Tuesday, April 17th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $14.79, for a total value of $369,750.00.
  • On Tuesday, April 10th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $14.37, for a total value of $359,250.00.
  • On Tuesday, April 3rd, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $14.06, for a total value of $351,500.00.
  • On Tuesday, March 27th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $16.34, for a total value of $408,500.00.
  • On Tuesday, March 20th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $15.96, for a total value of $399,000.00.
  • On Tuesday, March 13th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $17.60, for a total value of $440,000.00.
  • On Tuesday, March 6th, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $18.13, for a total value of $453,250.00.

Snap opened at $10.57 on Friday, according to MarketBeat Ratings. Snap Inc. has a one year low of $10.57 and a one year high of $10.75. The company has a market capitalization of $13.31 billion, a P/E ratio of -5.08 and a beta of -2.52.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, May 1st. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.16. Snap had a negative return on equity of 49.23% and a negative net margin of 179.04%. The firm had revenue of $230.70 million for the quarter, compared to analysts’ expectations of $244.57 million. During the same period in the prior year, the firm posted ($2.31) earnings per share. The firm’s quarterly revenue was up 54.2% on a year-over-year basis. equities analysts anticipate that Snap Inc. will post -1.16 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Coatue Management LLC lifted its stake in Snap by 16.1% during the fourth quarter. Coatue Management LLC now owns 27,390,619 shares of the company’s stock worth $400,176,000 after purchasing an additional 3,791,168 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Snap by 657.4% during the first quarter. OppenheimerFunds Inc. now owns 13,688,542 shares of the company’s stock worth $217,237,000 after purchasing an additional 11,881,245 shares in the last quarter. BlackRock Inc. lifted its stake in Snap by 8.1% during the first quarter. BlackRock Inc. now owns 12,587,685 shares of the company’s stock worth $199,766,000 after purchasing an additional 938,915 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Snap by 44.7% during the first quarter. Allianz Asset Management GmbH now owns 7,675,255 shares of the company’s stock worth $121,806,000 after purchasing an additional 2,372,137 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Snap by 11.3% during the fourth quarter. First Trust Advisors LP now owns 6,546,551 shares of the company’s stock worth $95,645,000 after purchasing an additional 662,450 shares in the last quarter. Institutional investors own 17.84% of the company’s stock.

Several equities research analysts have commented on the company. Oppenheimer reiterated a “market perform” rating and set a $14.00 price objective on shares of Snap in a research note on Wednesday, May 2nd. Summit Insights lowered Snap from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Evercore ISI lowered Snap from an “in-line” rating to an “underperform” rating and set a $7.00 price objective for the company. in a research note on Wednesday, May 2nd. CIBC reiterated a “market perform” rating on shares of Snap in a research note on Wednesday, May 2nd. Finally, Piper Jaffray cut their price objective on Snap from $17.00 to $11.50 and set a “neutral” rating for the company in a research note on Wednesday, May 2nd. Twelve investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the company. Snap has an average rating of “Hold” and a consensus target price of $15.68.

About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows to creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.

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

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