Snap (NYSE:SNAP) Insider Sells $127,340.37 in Stock

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 27,743 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $4.59, for a total value of $127,340.37. Following the transaction, the insider owned 5,130,734 shares of the company’s stock, valued at $23,550,069.06. This represents a 0.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, February 17th, Ajit Mohan sold 119,339 shares of Snap stock. The shares were sold at an average price of $4.70, for a total transaction of $560,893.30.
• On Friday, January 16th, Ajit Mohan sold 20,848 shares of Snap stock. The shares were sold at an average price of $7.62, for a total transaction of $158,861.76.

Snap Price Performance

Shares of NYSE:SNAP traded down $0.04 on Tuesday, reaching $4.65. The company’s stock had a trading volume of 28,532,711 shares, compared to its average volume of 40,170,488. The company has a 50-day simple moving average of $6.06 and a 200 day simple moving average of $7.24. Snap Inc. has a 52-week low of $4.52 and a 52-week high of $10.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.56 and a current ratio of 3.56. The company has a market cap of $7.85 billion, a P/E ratio of -17.20 and a beta of 0.83.

Snap (NYSE:SNAP) last announced its 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 business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 earnings per share. As a group, equities research analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SNAP shares. Citizens Jmp reiterated a “market perform” rating on shares of Snap in a report on Thursday, February 5th. Bank of America upgraded Snap from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, February 5th. JPMorgan Chase & Co. lowered their price target on Snap from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Thursday, February 5th. B. Riley Financial raised shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Thursday, February 5th. Finally, Stifel Nicolaus set a $5.50 price objective on shares of Snap and gave the company a “hold” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.17.

Institutional Trading of Snap

A number of hedge funds have recently bought and sold shares of the business. Allworth Financial LP boosted its holdings in shares of Snap by 92.3% during the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after purchasing an additional 1,581 shares during the last quarter. Arax Advisory Partners increased its holdings in shares of Snap by 220.0% in the fourth quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock valued at $27,000 after purchasing an additional 2,275 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Snap in the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its position in 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 buying an additional 3,071 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Snap during the third quarter worth approximately $33,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.