Snap Inc. (NYSE:SNAP – Get Free Report) insider Ajit Mohan sold 54,608 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $5.20, for a total value of $283,961.60. Following the completion of the transaction, the insider directly owned 4,972,097 shares of the company’s stock, valued at $25,854,904.40. The trade was a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a 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 Tuesday, June 16th, Ajit Mohan sold 6,923 shares of Snap stock. The shares were sold at an average price of $5.58, for a total transaction of $38,630.34.
Snap Stock Down 0.2%
Shares of NYSE SNAP opened at $5.23 on Friday. The firm has a market cap of $8.84 billion, a P/E ratio of -29.05 and a beta of 1.03. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.94 and a current ratio of 2.94. Snap Inc. has a 1 year low of $3.81 and a 1 year high of $9.28. The firm’s 50 day moving average price is $4.85 and its 200 day moving average price is $5.14.
Wall Street Analysts Forecast Growth
SNAP has been the topic of a number of recent analyst reports. BNP Paribas Exane lowered shares of Snap to a “neutral” rating in a report on Monday, April 27th. Barclays raised their target price on Snap from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Piper Sandler reaffirmed a “neutral” rating on shares of Snap in a research report on Tuesday, August 4th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $6.50 price target on shares of Snap in a research note on Tuesday, August 4th. Finally, Stifel Nicolaus set a $7.50 price target on Snap in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.65.
Get Our Latest Research Report on Snap
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of SNAP. Mackenzie Financial Corp increased its stake in Snap by 5.1% in the 3rd quarter. Mackenzie Financial Corp now owns 27,638 shares of the company’s stock worth $213,000 after buying an additional 1,349 shares during the period. WealthCollab LLC boosted its position in Snap by 1.2% in the 4th quarter. WealthCollab LLC now owns 115,390 shares of the company’s stock valued at $931,000 after buying an additional 1,369 shares during the period. Alliancebernstein L.P. grew its stake in Snap by 0.3% in the 3rd quarter. Alliancebernstein L.P. now owns 414,416 shares of the company’s stock worth $3,195,000 after acquiring an additional 1,396 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in Snap by 8.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 18,913 shares of the company’s stock worth $164,000 after acquiring an additional 1,451 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after acquiring an additional 1,581 shares during the period. Institutional investors own 47.52% of the company’s stock.
Snap News Summary
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
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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