Snap Inc. (NYSE:SNAP – Get Free Report) CFO Douglas Hott sold 131,884 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $5.20, for a total transaction of $685,796.80. Following the completion of the transaction, the chief financial officer owned 2,324,563 shares of the company’s stock, valued at approximately $12,087,727.60. The trade was a 5.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Snap Stock Performance
Shares of SNAP opened at $5.23 on Friday. The business’s fifty day simple moving average is $4.85 and its two-hundred day simple moving average is $5.14. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.75. Snap Inc. has a 12 month low of $3.81 and a 12 month high of $9.28. The company has a market cap of $8.84 billion, a price-to-earnings ratio of -29.05 and a beta of 1.03.
Snap (NYSE:SNAP – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Snap had a negative return on equity of 14.61% and a negative net margin of 4.90%.The company’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.16) earnings per share. Research analysts anticipate that Snap Inc. will post -0.05 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Snap
Key Snap News
Here are the key news stories impacting Snap this week:
- Neutral Sentiment: CFO Douglas Hott sold 131,884 shares for approximately $685,797 at an average price of $5.20, reducing his direct stake by about 5.37%. He retained more than 2.3 million shares. Snap CFO share sale article
- Neutral Sentiment: General Counsel Zachary Briers sold 204,044 shares in two reported transactions valued at roughly $1.05 million. The sales reduced his holdings, but he continued to own more than 2.3 million shares. SEC insider ownership filing
- Neutral Sentiment: Chief Accounting Officer Rebecca Morrow sold 17,336 shares worth approximately $90,147, while insider Ajit Mohan sold 54,608 shares valued at about $283,962. Both retained substantial positions after their tax-related sales. Snap insider selling report
Analyst Ratings Changes
SNAP has been the topic of several research analyst reports. Truist Financial lowered their target price on shares of Snap from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday, August 4th. Rosenblatt Securities reduced their price target on shares of Snap from $6.40 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. HSBC cut shares of Snap from a “hold” rating to a “hold” rating in a report on Monday, April 27th. Royal Bank Of Canada dropped their target price on shares of Snap from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, May 7th. Finally, Rothschild & Co Redburn raised shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twenty-three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.65.
View Our Latest Research Report on SNAP
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.
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