Ajit Mohan Sells 44,785 Shares of Snap (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 44,785 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.60, for a total value of $250,796.00. Following the completion of the transaction, the insider directly owned 5,057,891 shares of the company’s stock, valued at $28,324,189.60. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, April 16th, Ajit Mohan sold 28,058 shares of Snap stock. The shares were sold at an average price of $6.02, for a total value of $168,909.16.
• On Monday, March 16th, Ajit Mohan sold 27,743 shares of Snap stock. The shares were sold at an average price of $4.59, for a total value of $127,340.37.

Snap Stock Performance

NYSE SNAP opened at $5.69 on Friday. Snap Inc. has a 1-year low of $3.81 and a 1-year high of $10.41. The company has a market capitalization of $9.61 billion, a P/E ratio of -23.70 and a beta of 1.05. The business has a 50 day moving average price of $5.23 and a 200 day moving average price of $6.43. The company has a debt-to-equity ratio of 1.67, a current ratio of 3.53 and a quick ratio of 3.53.

Snap (NYSE:SNAP) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The firm 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 business earned ($0.08) earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. Sell-side analysts expect that Snap Inc. will post -0.07 EPS for the current fiscal year.

Analysts Set New Price Targets

SNAP has been the subject of several recent research reports. Royal Bank Of Canada dropped their price target on Snap from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, May 7th. Bank of America raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Thursday, February 5th. Wall Street Zen downgraded Snap from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. BMO Capital Markets raised their price target on Snap from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. Finally, Sanford C. Bernstein downgraded Snap from a “market perform” rating to a “market perform” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.91.

More Snap News

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Snap added Luke Wood, former Beats president and Apple executive, to its board of directors. Investors may view this as a credibility boost for leadership and a sign Snap is leaning on experienced consumer-tech talent to support its strategy. Luke Wood Joins Snap Inc. Board of Directors
• Neutral Sentiment: CFO Douglas Hott, General Counsel Zachary M. Briers, and CAO Rebecca Morrow all disclosed share sales, but each filing said the transactions were to cover tax withholding tied to vesting equity awards. That makes the sales more routine than a clear sign of waning confidence, though the timing may still attract attention. SEC filing for CFO Douglas Hott
• Neutral Sentiment: The insider selling was broad-based and included multiple transactions over May 18-19, which can create near-term caution even if the sales were pre-planned or tax-related. SEC filing for Zachary M. Briers
• Negative Sentiment: Multiple executive sales in a short period can weigh on Snap Inc. (NYSE: SNAP) sentiment, especially after a recent earnings report that missed profit expectations. Traders may worry that management sees limited near-term upside, even though the company said the sales were for tax reasons. SEC filing for Rebecca Morrow

Hedge Funds Weigh In On Snap

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP grew 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 purchasing an additional 1,581 shares during the period. Oak Harvest Investment Services purchased a new stake in shares of Snap in the fourth quarter valued at $26,000. Arax Advisory Partners grew its position 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 period. V Square Quantitative Management LLC purchased a new stake in shares of Snap in the fourth quarter valued at $29,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Snap by 561.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock valued at $29,000 after purchasing an additional 3,071 shares during the period. Hedge funds and other institutional investors 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.