Key Points
- Snap CAO Rebecca Morrow sold 20,000 shares at an average price of $5.35, totaling $107,000. She retained 578,105 shares after the transaction and had also sold 17,336 shares in August.
- Snap reported quarterly revenue of $1.60 billion, up 18.9% year over year, and an adjusted loss of $0.10 per share—better than analysts’ expected $0.12 loss.
- Analysts maintain a consensus “Hold” rating with a $7.65 average price target, while institutional investors own 47.52% of Snap’s outstanding shares.
Snap Inc. (NYSE:SNAP - Get Free Report) CAO Rebecca Morrow sold 20,000 shares of the company's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $5.35, for a total transaction of $107,000.00. Following the completion of the sale, the chief accounting officer owned 578,105 shares of the company's stock, valued at approximately $3,092,861.75. This represents a 3.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Rebecca Morrow also recently made the following trade(s):
- On Monday, August 17th, Rebecca Morrow sold 17,336 shares of Snap stock. The stock was sold at an average price of $5.20, for a total value of $90,147.20.
Snap Stock Up 2.6%
Shares of Snap stock opened at $5.67 on Friday. The company has a market capitalization of $9.58 billion, a P/E ratio of -31.47 and a beta of 1.05. 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 business has a 50-day moving average of $5.10 and a two-hundred day moving average of $5.17. Snap Inc. has a 1 year low of $3.81 and a 1 year high of $9.28.
Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. Snap had a negative return on equity of 14.61% and a negative net margin of 4.90%.The business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter in the previous year, the business posted ($0.16) EPS. Snap's revenue for the quarter was up 18.9% on a year-over-year basis. As a group, equities analysts predict that Snap Inc. will post -0.02 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. Sanford C. Bernstein restated a "market perform" rating and set a $5.00 price objective on shares of Snap in a report on Tuesday, July 21st. The Goldman Sachs Group reissued a "neutral" rating and issued a $6.50 price target on shares of Snap in a research note on Tuesday, August 4th. Barclays boosted their price target on Snap from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Guggenheim reaffirmed a "neutral" rating on shares of Snap in a research report on Wednesday, September 2nd. Finally, Evercore set a $8.00 price objective on Snap in a 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-four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.65.
Get Our Latest Stock Analysis on Snap
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. bought a new position in shares of Snap in the third quarter valued at $176,697,000. AQR Capital Management LLC lifted its stake in Snap by 874.3% in the fourth quarter. AQR Capital Management LLC now owns 10,066,852 shares of the company's stock valued at $81,239,000 after acquiring an additional 9,033,644 shares during the last quarter. Empyrean Capital Partners LP acquired a new stake in Snap in the first quarter valued at $25,300,000. California State Teachers Retirement System grew its position in shares of Snap by 268.8% in the 2nd quarter. California State Teachers Retirement System now owns 5,623,318 shares of the company's stock valued at $24,968,000 after acquiring an additional 4,098,404 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Snap by 1,191.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,903,141 shares of the company's stock valued at $17,330,000 after acquiring an additional 3,601,002 shares during the period. Institutional investors own 47.52% of the company's stock.
About Snap
(
Get Free Report)
Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, text messages and augmented reality experiences, including Lenses and filters. The platform also offers Stories, Spotlight for short-form video, Snap Map and other tools for discovering and sharing content.
Snap generates most of its business through digital advertising, including advertising displayed across Snapchat's content and communication features.
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