Lara Sweet Sells 60,233 Shares of Snap Inc (SNAP) Stock
Snap Inc (NYSE:SNAP) CFO Lara Sweet sold 60,233 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $11.73, for a total value of $706,533.09. Following the sale, the chief financial officer now directly owns 624,861 shares in the company, valued at $7,329,619.53. The sale was disclosed in a filing with the SEC, which is available through this link.
Lara Sweet also recently made the following trade(s):
- On Friday, April 5th, Lara Sweet sold 22,818 shares of Snap stock. The stock was sold at an average price of $12.00, for a total value of $273,816.00.
- On Monday, February 25th, Lara Sweet sold 22,818 shares of Snap stock. The stock was sold at an average price of $10.01, for a total value of $228,408.18.
- On Wednesday, February 20th, Lara Sweet sold 11,701 shares of Snap stock. The stock was sold at an average price of $9.25, for a total value of $108,234.25.
NYSE:SNAP opened at $11.67 on Friday. Snap Inc has a fifty-two week low of $4.82 and a fifty-two week high of $15.96. The firm has a market cap of $15.42 billion, a P/E ratio of -12.03 and a beta of 1.18.
A number of hedge funds have recently added to or reduced their stakes in SNAP. Bank of New York Mellon Corp increased its stake in Snap by 97.6% in the third quarter. Bank of New York Mellon Corp now owns 479,423 shares of the company’s stock worth $4,066,000 after purchasing an additional 236,816 shares during the period. Dimensional Fund Advisors LP increased its stake in Snap by 1,737.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,157,460 shares of the company’s stock worth $9,817,000 after purchasing an additional 1,094,467 shares during the period. United Services Automobile Association increased its stake in Snap by 143.3% in the third quarter. United Services Automobile Association now owns 100,574 shares of the company’s stock worth $853,000 after purchasing an additional 59,232 shares during the period. LPL Financial LLC increased its stake in Snap by 19.4% in the third quarter. LPL Financial LLC now owns 85,497 shares of the company’s stock worth $725,000 after purchasing an additional 13,898 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Snap in the third quarter worth $115,000. Institutional investors and hedge funds own 23.31% of the company’s stock.
Several analysts have recently issued reports on the company. Nomura upped their price objective on Snap from $6.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, February 6th. Zacks Investment Research raised Snap from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a report on Tuesday, January 29th. Pivotal Research cut Snap from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $8.00 to $6.00 in a report on Monday, January 7th. Stifel Nicolaus reaffirmed a “hold” rating and set a $10.00 price objective on shares of Snap in a report on Friday, April 5th. Finally, Aegis decreased their price objective on Snap from $10.00 to $7.00 and set a “hold” rating on the stock in a report on Wednesday, January 16th. Four research analysts have rated the stock with a sell rating, twenty-four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Snap has an average rating of “Hold” and an average price target of $9.53.
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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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