Ajit Mohan Sells 20,848 Shares of Snap (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 20,848 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $7.62, for a total transaction of $158,861.76. Following the sale, the insider owned 5,277,816 shares in the company, valued at $40,216,957.92. The trade was a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, December 16th, Ajit Mohan sold 28,137 shares of Snap stock. The stock was sold at an average price of $7.21, for a total transaction of $202,867.77.
• On Monday, November 17th, Ajit Mohan sold 109,372 shares of Snap stock. The shares were sold at an average price of $8.34, for a total transaction of $912,162.48.

Snap Trading Down 2.5%

Shares of SNAP stock traded down $0.19 on Tuesday, reaching $7.35. 44,376,770 shares of the stock were exchanged, compared to its average volume of 31,325,194. The business’s 50 day moving average price is $7.90 and its 200 day moving average price is $8.06. The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.67 and a current ratio of 3.67. Snap Inc. has a twelve month low of $6.90 and a twelve month high of $11.77.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.49 billion. Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. As a group, analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNAP has been the subject of several recent analyst reports. Rosenblatt Securities boosted their price objective on shares of Snap from $8.70 to $9.50 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. UBS Group dropped their price target on Snap from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday. Mizuho started coverage on shares of Snap in a report on Monday, September 29th. They issued a “neutral” rating and a $9.00 target price on the stock. Arete Research upgraded shares of Snap from a “sell” rating to a “neutral” rating in a research note on Tuesday, November 18th. Finally, Truist Financial raised their price objective on shares of Snap from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Three research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Snap has an average rating of “Reduce” and an average target price of $9.82.

Hedge Funds Weigh In On Snap

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. grew its position in shares of Snap by 6.2% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 416,458 shares of the company’s stock valued at $3,361,000 after purchasing an additional 24,358 shares during the last quarter. E. Ohman J or Asset Management AB purchased a new stake in Snap in the 4th quarter valued at approximately $197,000. Murphy Middleton Hinkle & Parker Inc. purchased a new stake in Snap in the 4th quarter valued at approximately $84,000. SG Americas Securities LLC grew its holdings in Snap by 26.1% during the 4th quarter. SG Americas Securities LLC now owns 3,134,605 shares of the company’s stock valued at $25,296,000 after buying an additional 648,240 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Snap by 537.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,150,134 shares of the company’s stock worth $33,492,000 after buying an additional 3,499,578 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

About Snap

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.