Zachary Briers Sells 11,958 Shares of Snap (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Zachary Briers sold 11,958 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $6.00, for a total transaction of $71,748.00. Following the completion of the transaction, the general counsel directly owned 2,560,835 shares in the company, valued at approximately $15,365,010. The trade was a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Snap Stock Performance

SNAP opened at $5.76 on Friday. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.67. The company has a market cap of $9.72 billion, a price-to-earnings ratio of -23.99 and a beta of 1.03. The company’s 50 day moving average is $5.50 and its 200 day moving average is $6.25. Snap Inc. has a 12-month low of $3.81 and a 12-month high of $10.41.

Snap (NYSE:SNAP) last posted its quarterly earnings data 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 business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the business posted ($0.08) EPS. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts predict that Snap Inc. will post -0.06 EPS for the current year.

Hedge Funds Weigh In On Snap

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Snap by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 101,251,557 shares of the company’s stock worth $817,100,000 after buying an additional 641,271 shares in the last quarter. Capital World Investors lifted its holdings 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 buying an additional 1,179,543 shares in the last quarter. Capital International Investors lifted its holdings in shares of Snap by 0.3% in the third quarter. Capital International Investors now owns 37,780,205 shares of the company’s stock worth $291,285,000 after buying an additional 95,989 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Snap in the third quarter worth $176,697,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Snap by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 13,525,119 shares of the company’s stock worth $108,711,000 after buying an additional 469,795 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Arete Research set a $7.30 price target on shares of Snap and gave the company a “buy” rating in a report on Tuesday, February 10th. Canaccord Genuity Group lowered their price target on shares of Snap from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. TD Cowen assumed coverage on shares of Snap in a report on Monday, April 27th. They set a “buy” rating on the stock. Loop Capital set a $8.00 price target on shares of Snap in a report on Monday, February 23rd. Finally, Guggenheim reaffirmed a “neutral” rating and set a $6.50 price target on shares of Snap in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.91.

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.