Snap (NYSE:SNAP) Insider Ajit Mohan Sells 44,785 Shares

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 44,785 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.60, for a total value of $250,796.00. Following the sale, the insider owned 5,057,891 shares in the company, valued at approximately $28,324,189.60. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, April 16th, Ajit Mohan sold 28,058 shares of Snap stock. The stock was sold at an average price of $6.02, for a total value of $168,909.16.
• On Monday, March 16th, Ajit Mohan sold 27,743 shares of Snap stock. The shares were sold at an average price of $4.59, for a total transaction of $127,340.37.

Snap Stock Performance

NYSE:SNAP opened at $5.62 on Thursday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.53 and a current ratio of 3.53. Snap Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $10.41. The company has a 50 day simple moving average of $5.21 and a two-hundred day simple moving average of $6.44. The company has a market capitalization of $9.49 billion, a PE ratio of -23.40 and a beta of 1.05.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm posted ($0.08) EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. Research analysts anticipate that Snap Inc. will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Snap

A number of institutional investors and hedge funds have recently modified their holdings of the business. Western Wealth Management LLC bought a new position in shares of Snap during the 1st quarter worth approximately $48,000. Centaurus Financial Inc. boosted its holdings in shares of Snap by 9.0% during the 1st quarter. Centaurus Financial Inc. now owns 227,072 shares of the company’s stock worth $1,045,000 after buying an additional 18,700 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Snap by 135.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,525 shares of the company’s stock worth $39,000 after purchasing an additional 4,907 shares in the last quarter. Riposte Capital LLC bought a new position in shares of Snap in the 1st quarter worth $5,520,000. Finally, Empowered Funds LLC lifted its holdings in shares of Snap by 39.8% in the 1st quarter. Empowered Funds LLC now owns 338,774 shares of the company’s stock worth $1,558,000 after purchasing an additional 96,495 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap News Summary

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Snap appointed Luke Wood, former President of Beats by Dr. Dre and a former Apple executive, to its board of directors. Investors may view the move as a credibility boost for Snap’s leadership and product strategy, especially given Wood’s experience at the intersection of technology and consumer brands. Luke Wood Joins Snap Inc. Board of Directors
• Neutral Sentiment: Several executive and director-level share sales were reported, but each filing said the transactions were made to cover tax withholding obligations tied to vesting equity awards. That makes the sales more routine than a clear signal of reduced confidence, though the volume may still weigh on investor sentiment. SEC filing for CFO Douglas Hott
• Neutral Sentiment: CFO Douglas Hott sold shares at about $5.60-$5.67, General Counsel Zachary M. Briers sold shares in two transactions, and CAO Rebecca Morrow also sold shares. Because these were insider transactions clustered around the same period, traders may interpret them cautiously even though the stated reason was tax-related. SEC filing for Zachary M. Briers
• Negative Sentiment: The size and timing of the insider sales could create near-term pressure on Snap Inc. (NYSE: SNAP) shares, even if they were routine. Investors often see multiple executive sales close together as a cautionary signal, especially ahead of any fresh operating updates. SEC filing for Rebecca Morrow

Analyst Upgrades and Downgrades

SNAP has been the topic of a number of analyst reports. Freedom Capital lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. TD Cowen initiated coverage on shares of Snap in a research note on Monday, April 27th. They issued a “buy” rating on the stock. Evercore reaffirmed a “mixed” rating on shares of Snap in a research note on Thursday, February 5th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $6.40 price objective on shares of Snap in a research note on Thursday, April 16th. Finally, Wells Fargo & Company increased their price target on Snap from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.91.

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.