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

by · The Cerbat Gem

Snap Inc. (NYSE:SNAP – Get Free Report) insider Ajit Mohan sold 28,137 shares of Snap stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $7.21, for a total value of $202,867.77. Following the completion of the transaction, the insider owned 5,298,664 shares of the company’s stock, valued at approximately $38,203,367.44. This represents a 0.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 stock was 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 Price Performance

Shares of Snap stock traded up $0.10 on Wednesday, reaching $7.47. The company’s stock had a trading volume of 61,684,349 shares, compared to its average volume of 51,862,461. The company has a quick ratio of 3.67, a current ratio of 3.67 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $12.85 billion, a P/E ratio of -25.77 and a beta of 0.85. The stock has a 50-day moving average price of $7.89 and a 200-day moving average price of $8.15. Snap Inc. has a 52-week low of $6.90 and a 52-week high of $13.28.

Snap (NYSE:SNAP – Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the business earned ($0.09) EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts expect that Snap Inc. will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP increased its holdings in shares of Snap by 92.3% in the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after purchasing an additional 1,581 shares during the last quarter. Signaturefd LLC grew its holdings in Snap by 169.9% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock valued at $26,000 after buying an additional 1,852 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Snap in the 3rd quarter valued at $33,000. Quarry LP acquired a new stake in shares of Snap in the 1st quarter worth $34,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Snap during the 1st quarter worth $35,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Arete Research upgraded shares of Snap from a “sell” rating to a “neutral” rating in a research report on Tuesday, November 18th. Cantor Fitzgerald lifted their price objective on Snap from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Mizuho started coverage on Snap in a research note on Monday, September 29th. They set a “neutral” rating and a $9.00 price objective for the company. New Street Research downgraded Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 28th. Finally, BMO Capital Markets lifted their price target on Snap from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note 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 assigned a Sell rating to the company. According to MarketBeat, Snap currently has a consensus rating of “Hold” and a consensus target price of $9.85.

Get Our Latest Stock Report on Snap

Snap Company Profile

(Get Free Report)

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.

Featured Stories