Insider Selling: Snap (NYSE:SNAP) Insider Sells $250,796.00 in Stock

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 44,785 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.60, for a total value of $250,796.00. Following the sale, the insider owned 5,057,891 shares in the company, valued at $28,324,189.60. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ajit Mohan also recently made the following trade(s):

• On Thursday, April 16th, Ajit Mohan sold 28,058 shares of Snap stock. The shares were sold at an average price of $6.02, for a total value of $168,909.16.
• On Monday, March 16th, Ajit Mohan sold 27,743 shares of Snap stock. The shares were sold at an average price of $4.59, for a total value of $127,340.37.

Snap Stock Up 0.4%

SNAP opened at $5.72 on Friday. Snap Inc. has a 12 month low of $3.81 and a 12 month high of $10.41. The company has a debt-to-equity ratio of 1.67, a current ratio of 3.53 and a quick ratio of 3.53. The stock has a market cap of $9.65 billion, a P/E ratio of -23.81 and a beta of 1.05. The stock’s 50 day moving average price is $5.25 and its 200 day moving average price is $6.42.

Snap (NYSE:SNAP) last posted its earnings results on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, research analysts predict that Snap Inc. will post -0.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

SNAP has been the subject of a number of research reports. Royal Bank Of Canada decreased their price target on Snap from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. Citizens Jmp reaffirmed a “market perform” rating on shares of Snap in a research note on Thursday, February 5th. Stifel Nicolaus increased their price target on Snap from $4.50 to $5.25 and gave the company a “hold” rating in a research note on Tuesday, April 21st. Piper Sandler reaffirmed a “neutral” rating on shares of Snap in a research note on Thursday, February 5th. Finally, BMO Capital Markets raised their price objective on Snap from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.91.

Institutional Investors Weigh In On Snap

Several large investors have recently modified their holdings of SNAP. Alyeska Investment Group L.P. bought a new stake in shares of Snap during the 3rd quarter worth $176,697,000. AQR Capital Management LLC boosted its stake in shares of Snap by 874.3% during the 4th quarter. AQR Capital Management LLC now owns 10,066,852 shares of the company’s stock worth $81,239,000 after acquiring an additional 9,033,644 shares in the last quarter. Empyrean Capital Partners LP acquired a new stake in shares of Snap in the first quarter worth $25,300,000. Junto Capital Management LP acquired a new stake in shares of Snap in the third quarter worth $29,071,000. Finally, Voloridge Investment Management LLC boosted its position in shares of Snap by 53.3% in the third quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock worth $79,420,000 after buying an additional 3,582,223 shares during the period. 47.52% of the stock is owned by institutional investors.

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.