Snap (NYSE:SNAP) General Counsel Zachary Briers Sells 11,257 Shares of Stock

Snap Inc. (NYSE:SNAP) General Counsel Zachary Briers sold 11,257 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $6.00, for a total transaction of $67,542.00. Following the completion of the transaction, the general counsel owned 2,345,534 shares of the company’s stock, valued at $14,073,204. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Snap Price Performance

Shares of NYSE:SNAP opened at $5.43 on Wednesday. Snap Inc. has a 12 month low of $3.81 and a 12 month high of $9.28. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of -30.19 and a beta of 1.05. The stock’s 50 day moving average price is $5.05 and its 200 day moving average price is $5.16. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.94 and a quick ratio of 2.94.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Snap had a negative return on equity of 14.61% and a negative net margin of 4.90%.The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company posted ($0.16) EPS. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. Equities research analysts anticipate that Snap Inc. will post -0.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNAP. Citizens Jmp reaffirmed a “market perform” rating on shares of Snap in a research note on Tuesday, August 4th. UBS Group set a $6.00 price objective on shares of Snap in a research note on Tuesday, August 4th. Freedom Capital upgraded shares of Snap from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Wells Fargo & Company increased their target price on shares of Snap from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Snap in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, twenty-four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.65.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP lifted its stake in Snap by 92.3% in 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 in the last quarter. Arax Advisory Partners grew its stake in Snap by 220.0% during the 4th 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. EverSource Wealth Advisors LLC increased its holdings in shares of Snap by 561.4% in the 4th 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. Fifth Third Bancorp increased its holdings in shares of Snap by 6,678.0% in the 1st quarter. Fifth Third Bancorp now owns 6,778 shares of the company’s stock valued at $31,000 after purchasing an additional 6,678 shares during the period. Finally, NFSG Corp lifted its position in shares of Snap by 52.7% in the first quarter. NFSG Corp now owns 8,400 shares of the company’s stock worth $39,000 after purchasing an additional 2,900 shares in the last quarter. 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.