Snap (NYSE:SNAP) Insider Ajit Mohan Sells 119,339 Shares

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 119,339 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total value of $560,893.30. Following the completion of the transaction, the insider owned 5,158,477 shares in the company, valued at $24,244,841.90. The trade was a 2.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ajit Mohan also recently made the following trade(s):

• On Friday, January 16th, Ajit Mohan sold 20,848 shares of Snap stock. The shares were sold at an average price of $7.62, for a total transaction of $158,861.76.
• On Tuesday, December 16th, Ajit Mohan sold 28,137 shares of Snap stock. The stock was sold at an average price of $7.21, for a total transaction of $202,867.77.

Snap Stock Performance

Shares of SNAP traded up $0.11 during mid-day trading on Thursday, hitting $4.99. The stock had a trading volume of 45,997,016 shares, compared to its average volume of 58,450,742. Snap Inc. has a 52 week low of $4.65 and a 52 week high of $10.83. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56. The business has a fifty day moving average price of $7.13 and a 200-day moving average price of $7.56. The firm has a market cap of $8.43 billion, a P/E ratio of -18.48 and a beta of 0.83.

Snap (NYSE:SNAP) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Snap Inc. will post -0.3 EPS for the current year.

Institutional Investors Weigh In On Snap

A number of large investors have recently made changes to their positions in the business. Empowered Funds LLC grew its position in shares of Snap by 13.3% in the 1st quarter. Empowered Funds LLC now owns 40,393 shares of the company’s stock worth $352,000 after buying an additional 4,754 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Snap by 2.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 70,608 shares of the company’s stock valued at $614,000 after buying an additional 1,743 shares during the last quarter. Nordea Investment Management AB increased its position in Snap by 15.1% during the second quarter. Nordea Investment Management AB now owns 97,938 shares of the company’s stock valued at $851,000 after acquiring an additional 12,856 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Snap by 4.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 196,790 shares of the company’s stock valued at $1,768,000 after buying an additional 8,568 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Snap by 1.8% in the 2nd quarter. Asset Management One Co. Ltd. now owns 400,739 shares of the company’s stock worth $3,482,000 after buying an additional 7,104 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. New Street Research lowered shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, October 28th. Roth Mkm set a $7.00 price target on Snap in a research note on Thursday, February 5th. Truist Financial upped their price objective on Snap from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Citizens Jmp reissued a “market perform” rating on shares of Snap in a report on Thursday, February 5th. Finally, Rosenblatt Securities cut their target price on Snap from $9.50 to $6.40 and set a “neutral” rating for the company in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.43.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.