Snap Inc. (NYSE:SNAP) Insider Ajit Mohan Sells 28,201 Shares

Snap Inc. (NYSE:SNAP - Get Free Report) insider Ajit Mohan sold 28,201 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $9.40, for a total transaction of $265,089.40. Following the completion of the transaction, the insider directly owned 5,676,293 shares of the company's stock, valued at approximately $53,357,154.20. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, June 16th, Ajit Mohan sold 27,608 shares of Snap stock. The stock was sold at an average price of $8.04, for a total value of $221,968.32.

Snap Stock Performance

Shares of SNAP stock traded up $0.26 during trading hours on Thursday, reaching $9.92. 46,367,575 shares of the company traded hands, compared to its average volume of 31,267,073. The firm has a 50-day moving average price of $8.66 and a 200 day moving average price of $9.37. The company has a market cap of $16.58 billion, a P/E ratio of -32.01 and a beta of 0.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.30 and a quick ratio of 4.30. Snap Inc. has a 12-month low of $7.08 and a 12-month high of $15.35.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. Snap's revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. As a group, sell-side analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SNAP. UBS Group reiterated a "neutral" rating and issued a $10.00 price objective (up from $9.00) on shares of Snap in a report on Wednesday. BMO Capital Markets lowered their price target on shares of Snap from $16.00 to $13.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Bank of America reduced their price objective on shares of Snap from $14.50 to $10.50 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Canaccord Genuity Group lowered their target price on Snap from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Finally, Loop Capital decreased their price target on Snap from $16.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Snap presently has an average rating of "Hold" and an average target price of $34.79.

Institutional Trading of Snap

Several institutional investors and hedge funds have recently made changes to their positions in SNAP. Signaturefd LLC raised its holdings in Snap by 169.9% in the second quarter. Signaturefd LLC now owns 2,942 shares of the company's stock worth $26,000 after purchasing an additional 1,852 shares in the last quarter. Avaii Wealth Management LLC raised its stake in shares of Snap by 65.3% during the 2nd quarter. Avaii Wealth Management LLC now owns 71,509 shares of the company's stock worth $621,000 after acquiring an additional 28,245 shares in the last quarter. North Star Investment Management Corp. lifted its position in Snap by 1,400.0% during the second quarter. North Star Investment Management Corp. now owns 15,000 shares of the company's stock valued at $130,000 after acquiring an additional 14,000 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Snap by 645.9% during the second quarter. Farther Finance Advisors LLC now owns 13,217 shares of the company's stock valued at $115,000 after acquiring an additional 11,445 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in Snap by 4.8% in the second quarter. IFM Investors Pty Ltd now owns 213,264 shares of the company's stock valued at $1,853,000 after acquiring an additional 9,833 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

About Snap

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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