Michael Lynton Sells 58,668 Shares of Snap Inc (SNAP) Stock
Snap Inc (NYSE:SNAP) Director Michael Lynton sold 58,668 shares of Snap stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $11.00, for a total value of $645,348.00. Following the completion of the transaction, the director now owns 126,817 shares in the company, valued at $1,394,987. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Snap stock opened at $11.16 on Friday. The firm has a market capitalization of $13.05 billion, a PE ratio of -11.51 and a beta of 1.14. Snap Inc has a 1-year low of $4.82 and a 1-year high of $17.24.
Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 5th. The company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.15. The firm had revenue of $389.82 million during the quarter, compared to analysts’ expectations of $378.90 million. Snap had a negative return on equity of 46.90% and a negative net margin of 106.39%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) EPS. Research analysts expect that Snap Inc will post -0.69 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the company. BTIG Research upgraded Snap from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Thursday. Consumer Edge assumed coverage on Snap in a report on Tuesday, March 12th. They issued an “outperform” rating on the stock. Zacks Investment Research upgraded Snap from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, February 18th. Royal Bank of Canada lifted their price target on Snap to $10.00 and gave the company a “market perform” rating in a report on Wednesday, February 6th. Finally, Nomura lifted their price target on Snap from $6.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, February 6th. Four research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and six have assigned a buy rating to the company. Snap currently has a consensus rating of “Hold” and a consensus price target of $8.85.
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.
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