Snap Inc. (NYSE:SNAP - Get Free Report) insider Ajit Mohan sold 27,608 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.04, for a total transaction of $221,968.32. Following the sale, the insider now owns 2,526,855 shares of the company's stock, valued at approximately $20,315,914.20. This trade represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Snap Stock Performance
Shares of Snap stock traded up $0.06 during trading hours on Wednesday, reaching $8.24. The company's stock had a trading volume of 27,589,916 shares, compared to its average volume of 29,656,775. Snap Inc. has a one year low of $7.08 and a one year high of $17.33. The stock's fifty day simple moving average is $8.32 and its two-hundred day simple moving average is $9.77. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.55.
Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $0.03 earnings per share. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. On average, research analysts forecast that Snap Inc. will post -0.3 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. B. Riley decreased their price objective on shares of Snap from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price objective on shares of Snap from $10.00 to $8.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley decreased their price objective on shares of Snap from $8.00 to $6.50 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Piper Sandler decreased their price objective on shares of Snap from $13.00 to $10.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $12.00 price target on shares of Snap in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $35.62.
Get Our Latest Analysis on SNAP
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Capital International Investors bought a new stake in Snap in the fourth quarter worth about $422,049,000. Capital World Investors raised its position in Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company's stock worth $906,161,000 after acquiring an additional 23,569,522 shares during the period. Vanguard Group Inc. raised its position in Snap by 6.7% in the first quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company's stock worth $953,601,000 after acquiring an additional 6,921,841 shares during the period. AQR Capital Management LLC raised its position in Snap by 110.4% in the first quarter. AQR Capital Management LLC now owns 11,300,874 shares of the company's stock worth $95,549,000 after acquiring an additional 5,930,766 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Snap by 121.9% in the first quarter. Assenagon Asset Management S.A. now owns 6,848,370 shares of the company's stock worth $59,649,000 after acquiring an additional 3,761,629 shares during the period. 47.52% of the stock is owned by institutional investors.
About Snap
(
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Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.
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