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 firm’s stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $15.96, for a total transaction of $399,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, March 13th, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $17.60, for a total transaction 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 transaction of $453,250.00.
• On Tuesday, February 27th, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $16.76, for a total transaction of $419,000.00.
• On Tuesday, February 20th, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $19.27, for a total transaction of $481,750.00.
• On Tuesday, February 13th, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $18.71, for a total transaction of $467,750.00.
• On Tuesday, February 6th, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $13.98, for a total transaction of $349,500.00.
• On Tuesday, January 30th, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $13.30, for a total transaction of $332,500.00.
• On Tuesday, January 23rd, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $14.40, for a total transaction of $360,000.00.
• On Tuesday, January 16th, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $13.54, for a total transaction of $338,500.00.
• On Tuesday, January 9th, Mitchell Lasky sold 25,000 shares of Snap stock. The stock was sold at an average price of $14.11, for a total transaction of $352,750.00.

Snap Inc (SNAP) opened at $16.57 on Friday. Snap Inc has a 52-week low of $11.28 and a 52-week high of $24.40. The company has a market cap of $19,632.53 and a P/E ratio of -5.01.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 6th. The company reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.06. Snap had a negative net margin of 417.61% and a negative return on equity of 100.64%. The company had revenue of $285.69 million for the quarter, compared to analyst estimates of $251.74 million. equities analysts anticipate that Snap Inc will post -1.17 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in SNAP. TB Alternative Assets Ltd. increased its position in Snap by 117.1% during the fourth quarter. TB Alternative Assets Ltd. now owns 546,600 shares of the company’s stock worth $7,986,000 after acquiring an additional 294,800 shares during the period. California Public Employees Retirement System bought a new position in Snap during the third quarter worth $1,576,000. Wealthfront Inc. increased its position in Snap by 57.7% during the fourth quarter. Wealthfront Inc. now owns 181,262 shares of the company’s stock worth $2,648,000 after acquiring an additional 66,308 shares during the period. Alps Advisors Inc. bought a new position in Snap during the fourth quarter worth $207,000. Finally, Penn Mutual Life Insurance Co bought a new position in Snap during the third quarter worth $2,646,000. 18.55% of the stock is currently owned by institutional investors.

Several analysts recently commented on SNAP shares. JMP Securities cut shares of Snap from an “outperform” rating to a “market perform” rating in a report on Sunday, November 26th. Wells Fargo restated a “hold” rating on shares of Snap in a report on Wednesday, November 29th. Deutsche Bank restated a “hold” rating and set a $11.00 price target on shares of Snap in a report on Thursday, November 30th. Barclays upgraded shares of Snap from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $11.00 to $18.00 in a report on Tuesday, December 5th. Finally, Evercore ISI started coverage on shares of Snap in a report on Tuesday, December 5th. They set an “underperform” rating and a $7.00 price target for the company. Fourteen research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $17.94.

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.

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