Snap (NYSE:SNAP) CFO Sells $685,796.80 in Stock

Snap Inc. (NYSE:SNAP) CFO Douglas Hott sold 131,884 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $5.20, for a total transaction of $685,796.80. Following the completion of the transaction, the chief financial officer owned 2,324,563 shares of the company’s stock, valued at $12,087,727.60. This trade represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Snap Price Performance

Snap stock traded up $0.13 during midday trading on Wednesday, reaching $5.24. 29,931,596 shares of the stock were exchanged, compared to its average volume of 48,138,145. The company’s fifty day moving average is $4.86 and its 200-day moving average is $5.17. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.94 and a current ratio of 2.94. The firm has a market cap of $8.86 billion, a PE ratio of -29.11 and a beta of 1.03. Snap Inc. has a 52 week low of $3.81 and a 52 week high of $9.28.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Snap had a negative net margin of 4.90% and a negative return on equity of 14.61%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) EPS. On average, sell-side analysts forecast that Snap Inc. will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently made changes to their positions in SNAP. Vanguard Group Inc. grew its stake in shares of Snap by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 101,251,557 shares of the company’s stock valued at $817,100,000 after buying an additional 641,271 shares during the last quarter. Capital World Investors grew its stake in shares of Snap by 1.4% in the fourth quarter. Capital World Investors now owns 88,452,006 shares of the company’s stock worth $713,808,000 after purchasing an additional 1,179,543 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Snap during the 3rd quarter valued at about $176,697,000. Geode Capital Management LLC raised its position in Snap by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 13,525,119 shares of the company’s stock valued at $108,711,000 after purchasing an additional 469,795 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in Snap by 53.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock worth $79,420,000 after buying an additional 3,582,223 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SNAP. BMO Capital Markets reaffirmed an “outperform” rating on shares of Snap in a report on Tuesday, August 4th. Stifel Nicolaus set a $7.50 target price on shares of Snap in a research report on Tuesday, August 4th. BNP Paribas Exane cut shares of Snap to a “neutral” rating in a research note on Monday, April 27th. The Goldman Sachs Group restated a “neutral” rating and set a $6.50 price objective on shares of Snap in a research report on Tuesday, August 4th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $5.00 price objective on shares of Snap in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, twenty-three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Snap has an average rating of “Hold” and an average price target of $7.65.

About Snap

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.