Rebecca Morrow Sells 16,729 Shares of Snap (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 16,729 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.60, for a total transaction of $93,682.40. Following the sale, the chief accounting officer directly owned 512,811 shares of the company’s stock, valued at approximately $2,871,741.60. This trade represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rebecca Morrow also recently made the following trade(s):

• On Tuesday, May 19th, Rebecca Morrow sold 3,570 shares of Snap stock. The stock was sold at an average price of $5.74, for a total transaction of $20,491.80.
• On Thursday, February 19th, Rebecca Morrow sold 3,175 shares of Snap stock. The stock was sold at an average price of $4.84, for a total transaction of $15,367.00.

Snap Stock Up 1.2%

Shares of Snap stock opened at $5.69 on Friday. The company has a fifty day moving average price of $5.23 and a 200 day moving average price of $6.43. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.67. Snap Inc. has a twelve month low of $3.81 and a twelve month high of $10.41. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of -23.70 and a beta of 1.05.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities research analysts forecast that Snap Inc. will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNAP has been the topic of a number of recent analyst reports. Citigroup reiterated a “neutral” rating on shares of Snap in a report on Monday. Roth Mkm set a $7.00 price objective on shares of Snap in a report on Thursday, February 5th. BMO Capital Markets boosted their price objective on shares of Snap from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, April 15th. Piper Sandler reiterated a “neutral” rating on shares of Snap in a report on Thursday, February 5th. Finally, Morgan Stanley cut their price objective on shares of Snap from $9.50 to $6.50 and set an “equal weight” rating on the stock in a report on Sunday, February 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.91.

More Snap News

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Snap added Luke Wood, former Beats president and Apple executive, to its board of directors. Investors may view this as a credibility boost for leadership and a sign Snap is leaning on experienced consumer-tech talent to support its strategy. Luke Wood Joins Snap Inc. Board of Directors
• Neutral Sentiment: CFO Douglas Hott, General Counsel Zachary M. Briers, and CAO Rebecca Morrow all disclosed share sales, but each filing said the transactions were to cover tax withholding tied to vesting equity awards. That makes the sales more routine than a clear sign of waning confidence, though the timing may still attract attention. SEC filing for CFO Douglas Hott
• Neutral Sentiment: The insider selling was broad-based and included multiple transactions over May 18-19, which can create near-term caution even if the sales were pre-planned or tax-related. SEC filing for Zachary M. Briers
• Negative Sentiment: Multiple executive sales in a short period can weigh on Snap Inc. (NYSE: SNAP) sentiment, especially after a recent earnings report that missed profit expectations. Traders may worry that management sees limited near-term upside, even though the company said the sales were for tax reasons. SEC filing for Rebecca Morrow

Institutional Investors Weigh In On Snap

A number of institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp raised its stake in shares of Snap by 5.1% in the 3rd quarter. Mackenzie Financial Corp now owns 27,638 shares of the company’s stock valued at $213,000 after purchasing an additional 1,349 shares in the last quarter. WealthCollab LLC raised its stake in shares of Snap by 1.2% in the 4th quarter. WealthCollab LLC now owns 115,390 shares of the company’s stock valued at $931,000 after purchasing an additional 1,369 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Snap by 0.3% in the 3rd quarter. Alliancebernstein L.P. now owns 414,416 shares of the company’s stock valued at $3,195,000 after purchasing an additional 1,396 shares in the last quarter. Orion Porfolio Solutions LLC raised its stake in shares of Snap by 8.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 18,913 shares of the company’s stock valued at $164,000 after purchasing an additional 1,451 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of Snap by 37.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 5,500 shares of the company’s stock valued at $44,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

About Snap

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.