Insider Selling: Snap (NYSE:SNAP) CAO Sells $20,491.80 in Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 3,570 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $5.74, for a total value of $20,491.80. Following the completion of the transaction, the chief accounting officer owned 509,241 shares of the company’s stock, valued at approximately $2,923,043.34. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rebecca Morrow also recently made the following trade(s):

• On Monday, May 18th, Rebecca Morrow sold 16,729 shares of Snap stock. The stock was sold at an average price of $5.60, for a total value of $93,682.40.
• On Thursday, February 19th, Rebecca Morrow sold 3,175 shares of Snap stock. The stock was sold at an average price of $4.84, for a total value of $15,367.00.

Snap Price Performance

SNAP opened at $5.72 on Friday. The stock has a fifty day simple moving average of $5.25 and a two-hundred day simple moving average of $6.42. 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 $9.65 billion, a price-to-earnings ratio of -23.81 and a beta of 1.05. 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). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.Snap’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.08) EPS. Research analysts predict that Snap Inc. will post -0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Snap

Large investors have recently bought and sold shares of the business. Korea Investment CORP increased its holdings in Snap by 573.6% in the 3rd quarter. Korea Investment CORP now owns 967,544 shares of the company’s stock worth $7,460,000 after buying an additional 823,900 shares in the last quarter. Contrarius Group Holdings Ltd bought a new stake in Snap in the 3rd quarter worth about $10,256,000. DNB Asset Management AS increased its holdings in Snap by 433.6% in the 3rd quarter. DNB Asset Management AS now owns 1,042,873 shares of the company’s stock worth $8,041,000 after buying an additional 847,447 shares in the last quarter. Quantbot Technologies LP increased its holdings in Snap by 54.4% in the 3rd quarter. Quantbot Technologies LP now owns 749,724 shares of the company’s stock worth $5,780,000 after buying an additional 264,156 shares in the last quarter. Finally, Ausdal Financial Partners Inc. increased its holdings in Snap by 76.3% in the 3rd quarter. Ausdal Financial Partners Inc. now owns 628,109 shares of the company’s stock worth $4,843,000 after buying an additional 271,893 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SNAP shares. Evercore restated a “mixed” rating on shares of Snap in a report on Thursday, February 5th. KeyCorp upgraded Snap from a “sector weight” rating to an “overweight” rating in a report on Monday, April 27th. Arete Research set a $7.30 price target on Snap and gave the company a “buy” rating in a report on Tuesday, February 10th. Royal Bank Of Canada reduced their price target on Snap from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, May 7th. Finally, Bank of America upgraded Snap from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Thursday, February 5th. One research 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 given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.