Snap (NYSE:SNAP) Insider Ajit Mohan Sells 20,848 Shares of Stock

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 20,848 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $7.62, for a total transaction of $158,861.76. Following the completion of the sale, the insider owned 5,277,816 shares in the company, valued at $40,216,957.92. The trade was a 0.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, December 16th, Ajit Mohan sold 28,137 shares of Snap stock. The shares were sold at an average price of $7.21, for a total transaction of $202,867.77.
• On Monday, November 17th, Ajit Mohan sold 109,372 shares of Snap stock. The shares were sold at an average price of $8.34, for a total transaction of $912,162.48.

Snap Stock Performance

NYSE SNAP opened at $7.35 on Wednesday. The firm has a market capitalization of $12.63 billion, a P/E ratio of -25.33 and a beta of 0.81. The stock has a 50-day simple moving average of $7.90 and a two-hundred day simple moving average of $8.06. The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.67 and a current ratio of 3.67. Snap Inc. has a fifty-two week low of $6.90 and a fifty-two week high of $11.77.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business earned ($0.09) earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on SNAP. BNP Paribas assumed coverage on shares of Snap in a research note on Wednesday, January 14th. They issued a “strong sell” rating for the company. Piper Sandler upped their price objective on shares of Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Mizuho started coverage on shares of Snap in a research note on Monday, September 29th. They set a “neutral” rating and a $9.00 target price on the stock. New Street Research cut Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 28th. Finally, The Goldman Sachs Group reduced their price target on Snap from $9.50 to $8.50 and set a “neutral” rating for the company in a report on Tuesday, January 13th. Three research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $9.82.

Hedge Funds Weigh In On Snap

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC increased its position in shares of Snap by 13.3% during the first quarter. Empowered Funds LLC now owns 40,393 shares of the company’s stock worth $352,000 after purchasing an additional 4,754 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Snap by 114.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 189,547 shares of the company’s stock worth $1,647,000 after purchasing an additional 101,126 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Snap by 4.8% during the second quarter. IFM Investors Pty Ltd now owns 213,264 shares of the company’s stock worth $1,853,000 after buying an additional 9,833 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Snap by 645.9% during the second quarter. Farther Finance Advisors LLC now owns 13,217 shares of the company’s stock worth $115,000 after buying an additional 11,445 shares in the last quarter. Finally, North Star Investment Management Corp. raised its position in shares of Snap by 1,400.0% in the second quarter. North Star Investment Management Corp. now owns 15,000 shares of the company’s stock valued at $130,000 after buying an additional 14,000 shares during the last quarter. Hedge funds and other institutional investors 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.