Mitchell Lasky Sells 25,000 Shares of Snap Inc. (SNAP) Stock

Snap Inc. (NYSE:SNAP) Director Mitchell Lasky sold 25,000 shares of the stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $10.75, for a total value of $268,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 24th, Mitchell Lasky sold 25,000 shares of Snap stock. The shares were sold at an average price of $15.67, for a total value of $391,750.00.
  • 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 stock was 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 stock was sold at an average price of $17.60, for a total value of $440,000.00.

Shares of NYSE:SNAP traded down $0.09 during midday trading on Wednesday, hitting $10.65. The company’s stock had a trading volume of 17,055,774 shares, compared to its average volume of 27,567,721. The company has a market cap of $13.48 billion, a P/E ratio of -5.12 and a beta of -2.52. Snap Inc. has a fifty-two week low of $10.50 and a fifty-two week high of $21.94.

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

Several analysts recently issued reports on the company. 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 report on Wednesday, May 2nd. Moffett Nathanson upgraded Snap from a “sell” rating to a “neutral” rating and set a $15.00 price objective for the company in a report on Monday. Oppenheimer reiterated a “market perform” rating and set a $14.00 price objective on shares of Snap in a report on Wednesday, May 2nd. Summit Insights lowered Snap from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Piper Jaffray Companies cut their price objective on Snap from $17.00 to $11.50 and set a “neutral” rating for the company in a report on Wednesday, May 2nd. Twelve equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. Snap has an average rating of “Hold” and an average target price of $15.66.

Several large investors have recently modified their holdings of SNAP. OppenheimerFunds Inc. grew its position in shares of Snap by 657.4% in the first quarter. OppenheimerFunds Inc. now owns 13,688,542 shares of the company’s stock valued at $217,237,000 after purchasing an additional 11,881,245 shares during the last quarter. Coatue Management LLC grew its position in shares of Snap by 16.1% in the fourth quarter. Coatue Management LLC now owns 27,390,619 shares of the company’s stock valued at $400,176,000 after purchasing an additional 3,791,168 shares during the last quarter. EMS Capital LP acquired a new stake in shares of Snap in the fourth quarter valued at about $41,200,000. Allianz Asset Management GmbH grew its position in shares of Snap by 44.7% in the first quarter. Allianz Asset Management GmbH now owns 7,675,255 shares of the company’s stock valued at $121,806,000 after purchasing an additional 2,372,137 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Snap by 17.8% in the fourth quarter. BlackRock Inc. now owns 11,648,770 shares of the company’s stock valued at $170,188,000 after purchasing an additional 1,762,106 shares during the last quarter. 21.36% of the stock is currently owned by institutional investors.

Snap Company Profile

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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