Insider Selling: Snap (NYSE:SNAP) Insider Sells 20,848 Shares of Stock

by · The Cerbat Gem

Snap Inc. (NYSE:SNAP – Get Free Report) insider Ajit Mohan sold 20,848 shares of Snap stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $7.62, for a total value of $158,861.76. Following the sale, the insider owned 5,277,816 shares of the company’s stock, valued at approximately $40,216,957.92. This represents a 0.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 shares were 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 stock was sold at an average price of $8.34, for a total transaction of $912,162.48.

Snap Trading Down 2.5%

Shares of NYSE SNAP traded down $0.19 during midday trading on Tuesday, reaching $7.35. 44,376,770 shares of the stock were exchanged, compared to its average volume of 31,325,194. The stock has a 50 day moving average price of $7.90 and a 200-day moving average price of $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 52-week low of $6.90 and a 52-week high of $11.77.

Snap (NYSE:SNAP – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. On average, equities analysts expect that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SNAP shares. Citigroup raised their target price on shares of Snap from $8.50 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Guggenheim decreased their price target on shares of Snap from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, December 19th. Wells Fargo & Company boosted their price objective on shares of Snap from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Piper Sandler increased their target price on Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Finally, BNP Paribas Exane began coverage on Snap in a report on Wednesday, January 14th. They issued an “underperform” rating and a $8.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snap has a consensus rating of “Reduce” and an average price target of $9.82.

View Our Latest Report on SNAP

Institutional Investors Weigh In On Snap

Several hedge funds have recently modified their holdings of the stock. Signaturefd LLC raised its stake in shares of Snap by 169.9% during the second quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock valued at $26,000 after purchasing an additional 1,852 shares during the period. Allworth Financial LP lifted its stake in shares of Snap by 92.3% in the third 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. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Snap during the 3rd quarter valued at approximately $33,000. Banque Cantonale Vaudoise purchased a new position in shares of Snap during the 3rd quarter valued at approximately $39,000. Finally, Blue Trust Inc. raised its holdings in Snap by 61.5% in the second quarter. Blue Trust Inc. now owns 6,633 shares of the company’s stock valued at $58,000 after acquiring an additional 2,525 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Snap Company Profile

(Get Free Report)

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.

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