Ajit Mohan Sells 27,608 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 27,608 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.04, for a total transaction of $221,968.32. Following the transaction, the insider now directly owns 2,526,855 shares in the company, valued at $20,315,914.20. This trade represents a 1.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Snap Stock Up 0.8%

NYSE SNAP opened at $8.24 on Friday. The stock’s 50 day simple moving average is $8.32 and its 200 day simple moving average is $9.73. Snap Inc. has a one year low of $7.08 and a one year high of $17.33. The firm has a market cap of $13.78 billion, a PE ratio of -26.59 and a beta of 0.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.30 and a quick ratio of 4.30.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company posted $0.03 EPS. Snap’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. 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. Capital World Investors lifted its position in shares of Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after purchasing an additional 23,569,522 shares in the last quarter. SRS Investment Management LLC grew its stake in shares of Snap by 1.4% during the fourth quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock valued at $793,998,000 after purchasing an additional 1,001,632 shares during the last quarter. Capital International Investors acquired a new stake in shares of Snap in the fourth quarter valued at approximately $422,049,000. Finally, Geode Capital Management LLC increased its holdings in shares of Snap by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock valued at $127,078,000 after purchasing an additional 134,017 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Bank of America decreased their price target on shares of Snap from $14.50 to $10.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. Susquehanna reduced their target price on shares of Snap from $13.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Loop Capital lowered their price target on Snap from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. UBS Group cut their price target on Snap from $14.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, BMO Capital Markets decreased their price objective on Snap from $16.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.62.

About Snap

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.