Snap (NYSE:SNAP) CAO Rebecca Morrow Sells 20,000 Shares

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $5.35, for a total value of $107,000.00. Following the completion of the transaction, the chief accounting officer directly owned 578,105 shares in the company, valued at $3,092,861.75. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, August 17th, Rebecca Morrow sold 17,336 shares of Snap stock. The stock was sold at an average price of $5.20, for a total value of $90,147.20.

Snap Trading Up 2.6%

Shares of SNAP opened at $5.67 on Friday. 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 company has a market cap of $9.58 billion, a price-to-earnings ratio of -31.47 and a beta of 1.05. The stock has a fifty day moving average price of $5.10 and a two-hundred day moving average price of $5.17. Snap Inc. has a 52-week low of $3.81 and a 52-week high of $9.28.

Snap (NYSE:SNAP) last announced its earnings results on Monday, August 3rd. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Snap had a negative return on equity of 14.61% and a negative net margin of 4.90%.The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company posted ($0.16) earnings per share. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. Analysts predict that Snap Inc. will post -0.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNAP. Stifel Nicolaus set a $7.50 target price on shares of Snap in a research report on Tuesday, August 4th. Wall Street Zen lowered shares of Snap from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company boosted their price objective on shares of Snap from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Mizuho upped their price objective on Snap from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Finally, Truist Financial decreased their price objective on Snap from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, twenty-four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Snap presently has an average rating of “Hold” and an average target price of $7.65.

Institutional Trading of Snap

Institutional investors and hedge funds have recently made changes to their positions in the business. Saba Capital Management L.P. lifted its stake in Snap by 232.5% in the first quarter. Saba Capital Management L.P. now owns 4,727,808 shares of the company’s stock valued at $21,748,000 after buying an additional 3,306,024 shares during the period. Empyrean Capital Partners LP acquired a new position in shares of Snap during the 1st quarter worth about $25,300,000. Assenagon Asset Management S.A. increased its stake in shares of Snap by 1,191.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,903,141 shares of the company’s stock valued at $17,330,000 after acquiring an additional 3,601,002 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Snap in the 4th quarter valued at about $1,620,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Snap in the 4th quarter valued at approximately $1,629,000. Institutional investors own 47.52% of the company’s stock.

Snap Company Profile

Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, text messages and augmented reality experiences, including Lenses and filters. The platform also offers Stories, Spotlight for short-form video, Snap Map and other tools for discovering and sharing content.

Snap generates most of its business through digital advertising, including advertising displayed across Snapchat’s content and communication features.