Snap (NYSE:SNAP) CFO Sells $650,360.34 in Stock

Snap Inc. (NYSE:SNAP) CFO Douglas Hott sold 114,702 shares of Snap stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $5.67, for a total value of $650,360.34. Following the completion of the sale, the chief financial officer owned 2,456,447 shares in the company, valued at approximately $13,928,054.49. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Douglas Hott also recently made the following trade(s):

• On Monday, May 18th, Douglas Hott sold 124,209 shares of Snap stock. The shares were sold at an average price of $5.60, for a total value of $695,570.40.

Snap Stock Up 0.4%

Snap stock opened at $5.72 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 3.53 and a quick ratio of 3.53. Snap Inc. has a 1-year low of $3.81 and a 1-year high of $10.41. The company has a market cap of $9.65 billion, a PE ratio of -23.81 and a beta of 1.05. The stock’s 50 day moving average price is $5.25 and its 200 day moving average price is $6.42.

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

Hedge Funds Weigh In On Snap

A number of institutional investors have recently made changes to their positions in SNAP. Allworth Financial LP raised its holdings in shares of Snap by 92.3% in the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after acquiring an additional 1,581 shares during the last quarter. Oak Harvest Investment Services acquired a new position in shares of Snap in the fourth quarter worth $26,000. Arax Advisory Partners raised its holdings in shares of Snap by 220.0% in the fourth quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock worth $27,000 after acquiring an additional 2,275 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Snap in the fourth quarter worth $29,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Snap by 561.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after acquiring an additional 3,071 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SNAP shares. Roth Mkm set a $7.00 price objective on Snap in a report on Thursday, February 5th. Morgan Stanley reduced their price objective on Snap from $9.50 to $6.50 and set an “equal weight” rating for the company in a report on Sunday, February 22nd. Cantor Fitzgerald reduced their price objective on Snap from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. UBS Group set a $8.00 price objective on Snap in a report on Thursday, May 7th. Finally, Guggenheim reaffirmed a “neutral” rating and set a $6.50 price objective on shares of Snap in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.