Snap (NYSE:SNAP) Insider Sells $38,630.34 in Stock

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 6,923 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $5.58, for a total value of $38,630.34. Following the transaction, the insider directly owned 5,050,968 shares in the company, valued at approximately $28,184,401.44. This represents a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Monday, May 18th, Ajit Mohan sold 44,785 shares of Snap stock. The shares were sold at an average price of $5.60, for a total value of $250,796.00.
• 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.

Snap Stock Performance

Shares of SNAP opened at $4.65 on Friday. The business’s fifty day moving average price is $5.64 and its 200 day moving average price is $6.07. Snap Inc. has a 12-month low of $3.81 and a 12-month high of $10.41. The stock has a market capitalization of $7.85 billion, a PE ratio of -19.38 and a beta of 1.03. 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 (NYSE:SNAP) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) EPS 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 during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm earned ($0.08) EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities research analysts forecast that Snap Inc. will post -0.06 EPS for the current year.

Institutional Trading of Snap

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Snap by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 101,251,557 shares of the company’s stock valued at $817,100,000 after acquiring an additional 641,271 shares in the last quarter. Capital World Investors grew its stake in shares of Snap by 1.4% in the fourth quarter. Capital World Investors now owns 88,452,006 shares of the company’s stock worth $713,808,000 after purchasing an additional 1,179,543 shares in the last quarter. Capital International Investors grew its stake in shares of Snap by 0.3% in the third quarter. Capital International Investors now owns 37,780,205 shares of the company’s stock worth $291,285,000 after purchasing an additional 95,989 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Snap during the third quarter valued at $176,697,000. Finally, Geode Capital Management LLC raised its stake in shares of Snap by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 13,525,119 shares of the company’s stock valued at $108,711,000 after purchasing an additional 469,795 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Snap

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Snap continues to push its augmented reality strategy, including the launch of its high-end SPECS AR glasses and new developer opportunities, which could support longer-term platform growth and engagement.
• Positive Sentiment: Snap’s acquisition of Illumix adds to its AR capabilities and reinforces management’s commitment to AR as a key growth area.
• Neutral Sentiment: There was elevated call option activity in Snap, suggesting some traders are still positioning for a rebound despite the recent weakness.
• Negative Sentiment: Insider Ajit Mohan sold 6,923 shares, but the company said the transaction was tied to tax withholding obligations from vesting equity awards, making it less concerning than a discretionary sale.
• Negative Sentiment: Jim Cramer called Snap “a disappointment,” adding to negative market sentiment around the stock and potentially weighing on investor confidence.
• Negative Sentiment: Snap recently reported earnings that missed EPS estimates, and its latest trading update showed the shares falling as investors remained unconvinced by the company’s near-term outlook.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SNAP. KeyCorp upgraded shares of Snap from a “sector weight” rating to an “overweight” rating in a research note on Monday, April 27th. TD Cowen assumed coverage on Snap in a research note on Monday, April 27th. They issued a “buy” rating for the company. Sanford C. Bernstein lowered Snap from a “market perform” rating to a “market perform” rating in a report on Monday, April 27th. Royal Bank Of Canada lowered their price objective 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. Finally, Barclays upgraded Snap from an “overweight” rating to an “overweight” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty-three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.79.

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.