Snap (NYSE:SNAP) General Counsel Sells $67,542.00 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Zachary Briers sold 11,257 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $6.00, for a total value of $67,542.00. Following the completion of the transaction, the general counsel directly owned 2,345,534 shares of the company’s stock, valued at approximately $14,073,204. The trade was a 0.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Snap Price Performance

Shares of NYSE SNAP opened at $5.54 on Friday. The stock has a market cap of $9.38 billion, a P/E ratio of -30.80 and a beta of 1.05. The firm’s 50-day simple moving average is $5.08 and its 200 day simple moving average is $5.17. Snap Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $9.28. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.75.

Snap (NYSE:SNAP) last announced its earnings results on Monday, August 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. Snap had a negative net margin of 4.90% and a negative return on equity of 14.61%. Snap’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.16) EPS. Equities analysts expect that Snap Inc. will post -0.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNAP. Zacks Research raised Snap from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 1st. DA Davidson boosted their price objective on Snap from $5.00 to $5.25 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Sanford C. Bernstein restated a “market perform” rating and issued a $5.00 price objective on shares of Snap in a report on Tuesday, July 21st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $6.50 target price on shares of Snap in a research note on Tuesday, August 4th. Finally, Barclays lifted their target price on Snap from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, twenty-four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.65.

Institutional Investors Weigh In On Snap

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors raised its position in shares of Snap by 1.4% during the fourth quarter. Capital World Investors now owns 88,452,006 shares of the company’s stock worth $713,808,000 after purchasing an additional 1,179,543 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Snap in the 3rd quarter valued at $176,697,000. Geode Capital Management LLC boosted its position in shares of Snap by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 13,525,119 shares of the company’s stock valued at $108,711,000 after purchasing an additional 469,795 shares during the period. Voloridge Investment Management LLC increased its stake in Snap by 53.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock worth $79,420,000 after purchasing an additional 3,582,223 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Snap by 874.3% during the 4th quarter. AQR Capital Management LLC now owns 10,066,852 shares of the company’s stock worth $81,239,000 after buying an additional 9,033,644 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

About Snap

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.