Snap Inc. (NYSE:SNAP) Insider Ajit Mohan Sells 28,201 Shares of Stock

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 28,201 shares of the business’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $9.40, for a total transaction of $265,089.40. Following the sale, the insider owned 5,676,293 shares in the company, valued at $53,357,154.20. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, June 16th, Ajit Mohan sold 27,608 shares of Snap stock. The stock was sold at an average price of $8.04, for a total transaction of $221,968.32.

Snap Price Performance

NYSE:SNAP opened at $9.90 on Friday. The stock has a market cap of $16.54 billion, a P/E ratio of -32.23 and a beta of 0.59. Snap Inc. has a one year low of $7.08 and a one year high of $15.35. The company has a fifty day moving average price of $8.66 and a 200 day moving average price of $9.37. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.30 and a quick ratio of 4.30.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. Snap’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. Analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SNAP shares. TD Cowen boosted their price target on shares of Snap from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday. Cantor Fitzgerald set a $7.00 target price on shares of Snap and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Piper Sandler dropped their target price on shares of Snap from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $12.00 target price on shares of Snap in a research report on Wednesday, April 30th. Finally, Stifel Nicolaus lowered their price objective on shares of Snap from $11.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $34.79.

Hedge Funds Weigh In On Snap

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Snap by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company’s stock valued at $953,601,000 after buying an additional 6,921,841 shares in the last quarter. Capital World Investors raised its stake in shares of Snap by 38.9% in the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after buying an additional 23,569,522 shares in the last quarter. SRS Investment Management LLC raised its stake in shares of Snap by 1.4% in the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock valued at $793,998,000 after buying an additional 1,001,632 shares in the last quarter. Capital International Investors bought a new stake in shares of Snap in the 4th quarter worth about $422,049,000. Finally, Geode Capital Management LLC increased its position in shares of Snap by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock worth $127,078,000 after purchasing an additional 134,017 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.