Insider Selling: Snap (NYSE:SNAP) Insider Sells $202,867.77 in Stock

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 28,137 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $7.21, for a total transaction of $202,867.77. Following the sale, the insider directly owned 5,298,664 shares in the company, valued at $38,203,367.44. This trade represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value of $912,162.48.
• On Thursday, October 16th, Ajit Mohan sold 28,238 shares of Snap stock. The shares were sold at an average price of $7.83, for a total value of $221,103.54.

Snap Stock Performance

Shares of NYSE SNAP opened at $7.57 on Friday. The stock has a market capitalization of $13.02 billion, a PE ratio of -26.10 and a beta of 0.85. Snap Inc. has a 52 week low of $6.90 and a 52 week high of $13.28. The stock has a 50 day moving average price of $7.85 and a 200 day moving average price of $8.14. 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 (NYSE:SNAP) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company posted ($0.09) EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SNAP has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of Snap from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Susquehanna reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Snap in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Snap in a research note on Wednesday, October 8th. Morgan Stanley dropped their price target on Snap from $8.50 to $8.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Finally, Rosenblatt Securities raised their price target on Snap from $8.70 to $9.50 and gave the company a “neutral” rating in a report on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Snap presently has an average rating of “Hold” and a consensus price target of $9.88.

Institutional Trading of Snap

Several hedge funds have recently added to or reduced their stakes in SNAP. Nuveen LLC acquired a new position in Snap in the 1st quarter valued at $1,675,000. Corient IA LLC acquired a new position in shares of Snap in the first quarter valued at about $131,000. Algert Global LLC bought a new position in Snap during the first quarter worth about $344,000. Korea Investment CORP raised its stake in Snap by 70.1% in the 1st quarter. Korea Investment CORP now owns 855,374 shares of the company’s stock worth $7,450,000 after purchasing an additional 352,379 shares in the last quarter. Finally, Credit Agricole S A raised its stake in Snap by 30.0% in the 1st quarter. Credit Agricole S A now owns 77,581 shares of the company’s stock worth $676,000 after purchasing an additional 17,921 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

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.