Stone Timothy R sold 24,890 shares in Snap Inc. (NYSE:SNAP) for $2,286,330 in transaction occurred on 2019/01/17. After making this transaction, the CFO owns a direct stake of 143,366 shares, worth $20,554,107, as per the last closing price. On 2019/01/16 Gorman Jeremi, Chief Business Officer at SNAP, dumped 27,259 shares at an average price of $5.77 per share. The selling total is valued at $28,796,669.
Separately, it had been reported that some other SNAP insiders also took part of the insider trading activity. Chief Strategy Officer, Grusd Jared had divested 25,244 shares for $2,928,421 through a trade on 2019/01/16. Following this activity, the insider holds 145,658 shares worth $26,326,505 as of recent close. Wall Street’s most bullish Snap Inc. (NYSE:SNAP) analysts are predicting the share price to blow past $12.25 per share during the next 12 months. The current median share price forecast by them is $8.2, suggesting that the stock could increase -8.79% in that time frame. The average price target of $8.21 calls for a nearly -8.68% increase in the stock price.
Snap Inc. (SNAP) trading activity significantly improved as the volume at ready counter increased to 40,885,195 shares versus 35,191,922 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 30,064,104 shares. The share price dropped -1.21% in recent trade and currently has a stock-market value of $10.96B. The shares finished at $8.99, after trading as low as $8.85 earlier in the session. It hit an intraday high Monday at $9.195. The stock is now 86.51% above against its bear-market low of $4.82 on December 21, 2018. It has retreated -130.81% since it’s 52-week high of $20.75 reached in February. Now the market price is down -53.64% on the year and up 63.16% YTD.
SNAP’s 50 day simple moving average (SMA 50) price is $6.25 and its 200-day simple moving average (SMA 200) price is $9.44. The company’s stock currently has a total float of 827.63M shares. Its weekly volatility is hovering around 7.05% and felt 5.02% volatility in price over a month. On the upside, the share price will test short term resistance at around $9.17. On a downside, the stock is likely to find some support, which begins at $8.83. The failure to get near-term support could push it to $8.67.
It had seen a positive analyst call from Raymond James, which upgraded the stock from Underperform to Mkt Perform on February 06. Analysts at Cascend Securities, shed their negative views on February 01 by lifting it fromSell to Hold. Brokerage firm Aegis Capital, looks cautious as they stick to prior recommendation of Hold, in a call on January 16. However, they did change the target price from $10 to $7. RBC Capital Mkts analysts came out with bearish views on January 16 when the call was made. They think the stock is now Sector Perform compared to to their prior call for Outperform.
Also, it is trading at rather expensive levels at just over 5.32x price/book and 9.29x price/sales. SNAP’s ROE is -49.9%, which is also considerably better than the industry’s ROE of -132.75%. It’s also very liquid in the near term, with a current ratio of 5.7. The stock has a debt/capital of 0.
SNAP last reported earnings on February 05, 2019 when it released Dec-18 results that exceeded expectations. The company raked in -$0.04 per share, -99.91% change on the same period last year. That was better than consensus for -$0.07. Revenue for the recent quarter stood at $389.82 million, up 36% on last year and above the $377.52 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $278.45 million to $315 million, which should be compared with $376.11 million generated last year. EPS is seen in a range of -$0.15 to -$0.1, against the -$0.16 reported a year ago.