Insider Selling: Snap (NYSE:SNAP) General Counsel Sells 11,958 Shares of Stock

Snap Inc. (NYSE:SNAP) General Counsel Zachary Briers sold 11,958 shares of Snap stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $6.00, for a total transaction of $71,748.00. Following the completion of the sale, the general counsel owned 2,560,835 shares in the company, valued at $15,365,010. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Snap Stock Down 5.1%

SNAP stock traded down $0.31 during midday trading on Friday, hitting $5.76. The company’s stock had a trading volume of 36,306,553 shares, compared to its average volume of 38,938,544. The company has a debt-to-equity ratio of 1.67, a current ratio of 3.53 and a quick ratio of 3.53. Snap Inc. has a twelve month low of $3.81 and a twelve month high of $10.41. The company’s fifty day moving average price is $5.50 and its 200 day moving average price is $6.25. The stock has a market capitalization of $9.72 billion, a P/E ratio of -23.99 and a beta of 1.03.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (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 previous year, the firm posted ($0.08) earnings per share. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts predict that Snap Inc. will post -0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

SNAP has been the subject of a number of analyst reports. KeyCorp raised shares of Snap from a “sector weight” rating to an “overweight” rating in a research report on Monday, April 27th. Royal Bank Of Canada decreased their price objective on shares of Snap from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, May 7th. Susquehanna decreased their price objective on shares of Snap from $9.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Loop Capital set a $8.00 price objective on shares of Snap in a research report on Monday, February 23rd. Finally, Tigress Financial started coverage on shares of Snap in a report on Monday, April 27th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Snap currently has a consensus rating of “Hold” and an average price target of $7.91.

Institutional Trading of Snap

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP raised its stake in Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after purchasing an additional 1,581 shares in the last quarter. Oak Harvest Investment Services acquired a new stake in Snap in the 4th quarter worth about $26,000. Arax Advisory Partners raised its stake in Snap by 220.0% in the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock worth $27,000 after purchasing an additional 2,275 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Snap in the 4th quarter worth about $29,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Snap by 561.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock valued at $29,000 after buying an additional 3,071 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Company Profile

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.