Key Points
- Snap CFO Douglas Hott sold 131,884 shares at an average price of $5.20, generating approximately $685,797. The sale was made to cover tax-withholding obligations tied to vested equity awards, and Hott retained more than 2.3 million shares.
- Snap recently reported quarterly revenue of $1.60 billion, up 18.9% year over year and above analysts’ $1.54 billion estimate, while its loss of $0.10 per share was narrower than expected.
- Analysts maintain a broadly cautious view, with the stock carrying an average “Hold” rating and a consensus price target of $7.65; shares opened at $5.24 and have traded between $3.81 and $9.28 over the past year.
Snap Inc. (NYSE:SNAP - Get Free Report) CAO Rebecca Morrow sold 17,336 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 value of $90,147.20. Following the completion of the sale, the chief accounting officer owned 598,105 shares of the company's stock, valued at approximately $3,110,146. This trade represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 $5.24 on Thursday. The company has a market capitalization of $8.86 billion, a PE ratio of -29.11 and a beta of 1.03. Snap Inc. has a one year low of $3.81 and a one year high of $9.28. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.94 and a quick ratio of 2.94. The company's fifty day moving average price is $4.85 and its 200 day moving average price is $5.15.
Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.16) earnings per share. As a group, analysts expect that Snap Inc. will post -0.05 earnings per share for the current year.
More 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 ownership by about 5.37%. The filing states that the shares were sold to cover tax-withholding obligations related to vested equity awards. He still owns more than 2.3 million shares. Snap CFO share sale article
- Neutral Sentiment: General Counsel Zachary Briers sold 136,504 shares for about $709,821 at $5.20 and an additional 67,540 shares for roughly $343,103 at $5.08. Both transactions were described as tax-related sales; Briers continued to own more than 2.3 million shares directly after the reported transactions. SEC insider ownership filing
- Neutral Sentiment: Chief Accounting Officer Rebecca Morrow sold 17,336 shares valued at approximately $90,147, while insider Ajit Mohan sold 54,608 shares worth about $283,962. Both sales were also made to satisfy tax withholding requirements, and each executive retained a substantial position in Snap. SEC insider ownership filings
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp boosted its stake in Snap by 5.1% during the 3rd quarter. Mackenzie Financial Corp now owns 27,638 shares of the company's stock worth $213,000 after acquiring an additional 1,349 shares during the last quarter. WealthCollab LLC boosted its position in shares of Snap by 1.2% during the fourth quarter. WealthCollab LLC now owns 115,390 shares of the company's stock worth $931,000 after purchasing an additional 1,369 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Snap by 0.3% in the 3rd quarter. Alliancebernstein L.P. now owns 414,416 shares of the company's stock valued at $3,195,000 after buying an additional 1,396 shares during the period. Orion Porfolio Solutions LLC grew its holdings in shares of Snap by 8.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 18,913 shares of the company's stock valued at $164,000 after buying an additional 1,451 shares during the period. Finally, Allworth Financial LP increased its position in shares of Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company's stock valued at $25,000 after buying an additional 1,581 shares in the last quarter. Institutional investors own 47.52% of the company's stock.
Wall Street Analyst Weigh In
SNAP has been the topic of a number of recent research reports. Rosenblatt Securities decreased their price objective on Snap from $6.40 to $6.00 and set a "neutral" rating on the stock in a report on Tuesday, August 4th. Benchmark reissued a "hold" rating on shares of Snap in a report on Tuesday, August 4th. Freedom Capital upgraded Snap from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Citizens Jmp reaffirmed a "market perform" rating on shares of Snap in a research note on Tuesday, August 4th. Finally, Guggenheim upped their price target on Snap from $5.00 to $5.50 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twenty-three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Snap has a consensus rating of "Hold" and a consensus target price of $7.65.
Get Our Latest Stock Analysis on SNAP
Snap Company Profile
(
Get Free Report)
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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