Insider Selling: Snap Inc. (NYSE:SNAP) SVP Sells 117,592 Shares of Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 117,592 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.59, for a total transaction of $1,010,115.28. Following the completion of the sale, the senior vice president now directly owns 3,348,290 shares of the company’s stock, valued at approximately $28,761,811.10. This trade represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Eric Young also recently made the following trade(s):

• On Tuesday, February 18th, Eric Young sold 102,152 shares of Snap stock. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68.

Snap Price Performance

SNAP stock traded down $0.06 during trading on Monday, hitting $8.69. 26,094,903 shares of the stock traded hands, compared to its average volume of 28,740,900. Snap Inc. has a one year low of $7.08 and a one year high of $17.33. The stock has a market cap of $14.52 billion, a price-to-earnings ratio of -20.69 and a beta of 0.61. The company has a 50 day simple moving average of $8.47 and a 200 day simple moving average of $10.21. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on SNAP shares. UBS Group reduced their price target on shares of Snap from $14.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Cantor Fitzgerald set a $7.00 price target on shares of Snap and gave the company a “neutral” rating in a report on Wednesday, April 30th. BMO Capital Markets reduced their price target on shares of Snap from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Citigroup reduced their price objective on shares of Snap from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Finally, Piper Sandler reduced their price objective on shares of Snap from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus target price of $35.62.

Hedge Funds Weigh In On Snap

Several institutional investors have recently added to or reduced their stakes in SNAP. Capital International Investors acquired a new stake in Snap in the 4th quarter valued at about $422,049,000. Capital World Investors increased its position in Snap by 38.9% in the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after acquiring an additional 23,569,522 shares in the last quarter. Vanguard Group Inc. increased its position in Snap by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company’s stock valued at $953,601,000 after acquiring an additional 6,921,841 shares in the last quarter. AQR Capital Management LLC increased its position in Snap by 110.4% in the 1st quarter. AQR Capital Management LLC now owns 11,300,874 shares of the company’s stock valued at $95,549,000 after acquiring an additional 5,930,766 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Snap by 121.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 6,848,370 shares of the company’s stock valued at $59,649,000 after acquiring an additional 3,761,629 shares in the last quarter. 47.52% of the stock is owned by institutional investors.

Snap Company Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.