Snap (NYSE:SNAP) CFO Douglas Hott Sells 124,209 Shares

Snap Inc. (NYSE:SNAP) CFO Douglas Hott sold 124,209 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.60, for a total transaction of $695,570.40. Following the sale, the chief financial officer directly owned 2,571,149 shares in the company, valued at $14,398,434.40. The trade was a 4.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, May 19th, Douglas Hott sold 114,702 shares of Snap stock. The stock was sold at an average price of $5.67, for a total transaction of $650,360.34.

Snap Price Performance

Shares of NYSE SNAP opened at $5.62 on Thursday. The firm has a market cap of $9.49 billion, a PE ratio of -23.40 and a beta of 1.05. The firm has a fifty day moving average of $5.21 and a 200 day moving average of $6.44. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.53 and a current ratio of 3.53. Snap Inc. has a one year low of $3.81 and a one year high of $10.41.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm posted ($0.08) EPS. Snap’s revenue was up 12.2% compared to the same quarter last year. As a group, research analysts predict that Snap Inc. will post -0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Allworth Financial LP lifted 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 acquiring an additional 1,581 shares during the period. Arax Advisory Partners grew its position in 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 acquiring an additional 2,275 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Snap in the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its position 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 buying an additional 3,071 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Snap during the third quarter worth approximately $33,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Snap News Roundup

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Snap appointed Luke Wood, former President of Beats by Dr. Dre and a former Apple executive, to its board of directors. Investors may view the move as a credibility boost for Snap’s leadership and product strategy, especially given Wood’s experience at the intersection of technology and consumer brands. Luke Wood Joins Snap Inc. Board of Directors
• Neutral Sentiment: Several executive and director-level share sales were reported, but each filing said the transactions were made to cover tax withholding obligations tied to vesting equity awards. That makes the sales more routine than a clear signal of reduced confidence, though the volume may still weigh on investor sentiment. SEC filing for CFO Douglas Hott
• Neutral Sentiment: CFO Douglas Hott sold shares at about $5.60-$5.67, General Counsel Zachary M. Briers sold shares in two transactions, and CAO Rebecca Morrow also sold shares. Because these were insider transactions clustered around the same period, traders may interpret them cautiously even though the stated reason was tax-related. SEC filing for Zachary M. Briers
• Negative Sentiment: The size and timing of the insider sales could create near-term pressure on Snap Inc. (NYSE: SNAP) shares, even if they were routine. Investors often see multiple executive sales close together as a cautionary signal, especially ahead of any fresh operating updates. SEC filing for Rebecca Morrow

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Tigress Financial assumed coverage on shares of Snap in a research report on Monday, April 27th. They set a “buy” rating on the stock. Evercore restated a “mixed” rating on shares of Snap in a report on Thursday, February 5th. Benchmark started coverage on shares of Snap in a report on Monday, April 27th. They issued a “buy” rating on the stock. BMO Capital Markets boosted their price objective on shares of Snap from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, April 15th. Finally, Loop Capital set a $8.00 price objective on shares of Snap in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Snap has an average rating of “Hold” and a consensus price target of $7.91.

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.