Snap (NYSE:SNAP) CFO Sells $75,300.00 in Stock

Snap Inc. (NYSE:SNAP) CFO Douglas Hott sold 15,000 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $5.02, for a total transaction of $75,300.00. Following the completion of the sale, the chief financial officer owned 2,309,563 shares in the company, valued at approximately $11,594,006.26. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Douglas Hott also recently made the following trade(s):

• On Monday, August 17th, Douglas Hott sold 131,884 shares of Snap stock. The stock was sold at an average price of $5.20, for a total transaction of $685,796.80.

Snap Stock Performance

Shares of NYSE SNAP traded up $0.03 during midday trading on Friday, reaching $5.25. 34,943,569 shares of the stock were exchanged, compared to its average volume of 43,049,000. Snap Inc. has a 12 month low of $3.81 and a 12 month high of $9.07. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 1.52. The business has a 50-day simple moving average of $5.71 and a two-hundred day simple moving average of $5.34.

Snap (NYSE:SNAP) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.03 EPS for the quarter. Snap had a negative net margin of 2.30% and a negative return on equity of 7.10%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company earned ($0.06) EPS. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. On average, analysts anticipate that Snap Inc. will post 0.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SNAP. Susquehanna reissued a “neutral” rating on shares of Snap in a research note on Tuesday, August 4th. Royal Bank Of Canada restated a “sector perform” rating and issued a $8.00 price target on shares of Snap in a report on Thursday, September 17th. Zacks Research raised Snap from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Piper Sandler reiterated a “neutral” rating on shares of Snap in a report on Tuesday, August 4th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $5.00 price objective on shares of Snap in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus target price of $7.31.

Institutional Investors Weigh In On Snap

Several large investors have recently made changes to their positions in the stock. Empowered Funds LLC raised its stake in shares of Snap by 3.0% in the 3rd quarter. Empowered Funds LLC now owns 429,437 shares of the company’s stock valued at $2,319,000 after purchasing an additional 12,571 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Snap in the third quarter valued at about $6,748,000. First Trust Advisors LP lifted its holdings in shares of Snap by 67.9% in the third quarter. First Trust Advisors LP now owns 40,802 shares of the company’s stock valued at $220,000 after purchasing an additional 16,501 shares in the last quarter. Private Wealth Asset Management LLC acquired a new position in shares of Snap during the third quarter worth about $56,000. Finally, Focus Advisor Solutions LLC boosted its position in shares of Snap by 81.2% during the third quarter. Focus Advisor Solutions LLC now owns 48,565 shares of the company’s stock worth $262,000 after buying an additional 21,758 shares during the period. Institutional investors own 47.52% of the company’s stock.

About Snap

Snap Inc. is a technology company best known for Snapchat, a mobile application for visual communication. The company’s products and services help people share photos and videos, message friends, and explore content from creators and publishers. Snapchat features include Stories, Spotlight for short-form video, Snap Map, and augmented reality tools such as interactive Lenses. Snap also provides advertising solutions to businesses and develops camera-related products and services, including its Spectacles smart glasses and Snap AR platform.