Snap Inc (NYSE:SNAP) Insider Jared Grusd Sells 31,129 Shares of Stock

Snap Inc (NYSE:SNAP) insider Jared Grusd sold 31,129 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.68, for a total transaction of $488,102.72. Following the transaction, the insider now owns 2,430,267 shares in the company, valued at approximately $38,106,586.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Jared Grusd also recently made the following trade(s):

  • On Wednesday, September 18th, Jared Grusd sold 30,405 shares of Snap stock. The stock was sold at an average price of $16.70, for a total transaction of $507,763.50.
  • On Friday, August 16th, Jared Grusd sold 30,390 shares of Snap stock. The stock was sold at an average price of $16.05, for a total transaction of $487,759.50.
  • On Tuesday, August 20th, Jared Grusd sold 61,534 shares of Snap stock. The stock was sold at an average price of $16.02, for a total transaction of $985,774.68.
  • On Tuesday, July 16th, Jared Grusd sold 30,864 shares of Snap stock. The stock was sold at an average price of $15.32, for a total transaction of $472,836.48.
  • On Thursday, June 20th, Jared Grusd sold 30,659 shares of Snap stock. The stock was sold at an average price of $14.92, for a total transaction of $457,432.28.

NYSE SNAP traded down $0.19 on Thursday, hitting $16.71. The company’s stock had a trading volume of 14,940,522 shares, compared to its average volume of 21,111,806. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15. Snap Inc has a 1-year low of $4.82 and a 1-year high of $18.36. The company’s 50-day moving average is $16.19 and its 200 day moving average is $13.42. The firm has a market cap of $21.74 billion, a PE ratio of -17.23 and a beta of 1.12.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.02. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The firm had revenue of $388.02 million during the quarter, compared to analysts’ expectations of $358.16 million. During the same period in the prior year, the company posted ($0.14) EPS. The company’s revenue was up 48.0% on a year-over-year basis. On average, equities analysts expect that Snap Inc will post -0.71 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Snap in the 2nd quarter valued at approximately $1,881,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Snap in the 2nd quarter valued at approximately $72,000. Toronto Dominion Bank increased its position in Snap by 414,456.0% in the 2nd quarter. Toronto Dominion Bank now owns 103,639 shares of the company’s stock valued at $1,481,000 after acquiring an additional 103,614 shares during the period. Atria Investments LLC acquired a new position in Snap in the 2nd quarter valued at approximately $560,000. Finally, Treasurer of the State of North Carolina increased its position in Snap by 4.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 207,139 shares of the company’s stock valued at $2,962,000 after acquiring an additional 8,880 shares during the period. Hedge funds and other institutional investors own 26.84% of the company’s stock.

SNAP has been the subject of a number of recent analyst reports. BTIG Research upped their price target on shares of Snap from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Rosenblatt Securities initiated coverage on shares of Snap in a report on Tuesday, July 23rd. They set a “buy” rating and a $18.00 price target for the company. Pivotal Research reaffirmed a “buy” rating and set a $20.50 price target on shares of Snap in a report on Wednesday, July 24th. China Renaissance Securities initiated coverage on shares of Snap in a report on Wednesday, May 29th. They set a “hold” rating and a $12.00 price target for the company. Finally, Canaccord Genuity upped their price target on shares of Snap from $13.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating and fourteen have issued a buy rating to the company. Snap currently has an average rating of “Hold” and an average price target of $15.46.

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 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 surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

Read More: Cost of Capital Explained

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

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