Snap (NYSE:SNAP) Insider Sells 27,743 Shares

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 27,743 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $4.59, for a total value of $127,340.37. Following the completion of the sale, the insider directly owned 5,130,734 shares of the company’s stock, valued at $23,550,069.06. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, February 17th, Ajit Mohan sold 119,339 shares of Snap stock. The shares were sold at an average price of $4.70, for a total transaction of $560,893.30.
• 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.

Snap Trading Down 0.7%

Snap stock traded down $0.04 during midday trading on Tuesday, hitting $4.65. 28,532,711 shares of the stock were exchanged, compared to its average volume of 40,170,488. Snap Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $10.41. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of -17.20 and a beta of 0.83. The stock’s 50-day simple moving average is $6.06 and its 200 day simple moving average is $7.24. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 1.53.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citizens Jmp reiterated a “market perform” rating on shares of Snap in a report on Thursday, February 5th. Cantor Fitzgerald cut their target price on Snap from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Canaccord Genuity Group set a $7.00 target price on Snap in a research report on Thursday, February 5th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $8.00 price target on shares of Snap in a research note on Thursday, February 5th. Finally, BNP Paribas Exane started coverage on Snap in a research report on Wednesday, January 14th. They set a “strong sell” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.17.

Hedge Funds Weigh In On Snap

Several hedge funds have recently bought and sold shares of the company. Allworth Financial LP raised its holdings in Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after purchasing an additional 1,581 shares during the last quarter. Arax Advisory Partners grew its holdings in Snap by 220.0% during the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock valued at $27,000 after buying an additional 2,275 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Snap during the 4th quarter worth about $29,000. EverSource Wealth Advisors LLC grew its holdings in shares of Snap by 561.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after buying an additional 3,071 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Snap in the 3rd quarter worth approximately $33,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.