Insider Selling: Snap (NYSE:SNAP) Insider Sells $283,961.60 in Stock

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 54,608 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $5.20, for a total value of $283,961.60. Following the completion of the transaction, the insider owned 4,972,097 shares in the company, valued at $25,854,904.40. The trade was a 1.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, June 16th, Ajit Mohan sold 6,923 shares of Snap stock. The shares were sold at an average price of $5.58, for a total transaction of $38,630.34.

Snap Stock Performance

Shares of Snap stock opened at $5.24 on Friday. Snap Inc. has a one year low of $3.81 and a one year high of $9.28. The company has a market cap of $8.86 billion, a price-to-earnings ratio of -29.11 and a beta of 1.03. 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 business’s 50 day moving average price is $4.85 and its 200 day moving average price is $5.14.

Snap (NYSE:SNAP) last issued its earnings results on Monday, August 3rd. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $1.60 billion for 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%. Snap’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.16) earnings per share. On average, research analysts predict that Snap Inc. will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Snap

Several hedge funds and other institutional investors have recently bought and sold shares of SNAP. Allworth Financial LP lifted its position in Snap by 92.3% in the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after acquiring an additional 1,581 shares during the last quarter. Arax Advisory Partners grew its holdings in shares of Snap by 220.0% during the fourth quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock worth $27,000 after purchasing an additional 2,275 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Snap by 561.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after purchasing an additional 3,071 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Snap during the third quarter worth about $39,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Snap during the fourth quarter worth about $41,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on SNAP shares. Truist Financial lowered their target price on Snap from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday, August 4th. Wells Fargo & Company lifted their target price on Snap from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. Stifel Nicolaus set a $7.50 price target on shares of Snap in a research report on Tuesday, August 4th. HSBC cut shares of Snap from a “hold” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Rothschild & Co Redburn upgraded shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.