Snap Inc (NYSE:SNAP) CFO Timothy R. Stone Sells 8,619 Shares
Snap Inc (NYSE:SNAP) CFO Timothy R. Stone sold 8,619 shares of Snap stock in a transaction on Monday, September 17th. The shares were sold at an average price of $9.29, for a total transaction of $80,070.51. Following the sale, the chief financial officer now directly owns 1,224,343 shares of the company’s stock, valued at approximately $11,374,146.47. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of SNAP stock traded up $0.37 during trading hours on Friday, reaching $7.18. 36,204,971 shares of the company were exchanged, compared to its average volume of 26,062,969. Snap Inc has a fifty-two week low of $6.46 and a fifty-two week high of $21.22. The firm has a market capitalization of $10.83 billion, a price-to-earnings ratio of -3.45 and a beta of -2.59.
Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, August 7th. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.18. Snap had a negative net margin of 155.31% and a negative return on equity of 49.79%. The business had revenue of $262.26 million for the quarter, compared to analyst estimates of $247.24 million. Equities research analysts anticipate that Snap Inc will post -1.07 earnings per share for the current year.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Snap from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Wedbush upgraded shares of Snap from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $11.50 to $12.25 in a research report on Tuesday, September 11th. Cowen reduced their price target on shares of Snap from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Friday, July 13th. Pivotal Research restated a “sell” rating and issued a $9.00 price target on shares of Snap in a research report on Wednesday, August 8th. Finally, Wells Fargo & Co restated a “hold” rating and issued a $12.00 price target on shares of Snap in a research report on Wednesday, August 8th. Ten research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $13.66.
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.
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