Snap (NYSE:SNAP) General Counsel Sells $633,113.50 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Zachary Briers sold 134,705 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total transaction of $633,113.50. Following the completion of the transaction, the general counsel owned 2,854,088 shares of the company’s stock, valued at $13,414,213.60. This trade represents a 4.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Snap Trading Up 2.3%

SNAP traded up $0.11 during mid-day trading on Thursday, reaching $4.99. The stock had a trading volume of 45,997,016 shares, compared to its average volume of 58,450,742. The firm’s fifty day simple moving average is $7.13 and its two-hundred day simple moving average is $7.56. The stock has a market capitalization of $8.43 billion, a P/E ratio of -18.48 and a beta of 0.83. Snap Inc. has a 52 week low of $4.65 and a 52 week high of $10.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.56 and a current ratio of 3.56.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.12). The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. Snap’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 EPS. On average, equities analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Snap

Several institutional investors and hedge funds have recently modified their holdings of SNAP. Allworth Financial LP increased its position in shares of 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. Oak Harvest Investment Services acquired a new position in shares of Snap during the 4th quarter worth approximately $26,000. Arax Advisory Partners increased its position in shares of Snap by 220.0% during the 4th 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. V Square Quantitative Management LLC bought a new stake in shares of Snap during the 4th quarter worth approximately $29,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Snap by 561.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock valued at $29,000 after buying an additional 3,071 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein restated a “market perform” rating and issued a $8.00 price objective on shares of Snap in a report on Thursday, February 5th. Roth Mkm set a $7.00 target price on shares of Snap in a research report on Thursday, February 5th. BMO Capital Markets increased their price target on Snap from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Susquehanna decreased their price objective on Snap from $9.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Finally, Truist Financial upped their price objective on Snap from $10.00 to $11.00 and gave the company a “hold” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-one have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.43.

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.