Snap (NYSE:SNAP) General Counsel Zachary Briers Sells 71,745 Shares

Snap Inc. (NYSE:SNAP) General Counsel Zachary Briers sold 71,745 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $5.67, for a total value of $406,794.15. Following the transaction, the general counsel owned 2,572,793 shares in the company, valued at approximately $14,587,736.31. This represents a 2.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Snap Stock Up 1.2%

Shares of NYSE SNAP opened at $5.62 on Thursday. Snap Inc. has a 1 year low of $3.81 and a 1 year high of $10.41. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of -23.40 and a beta of 1.05. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.53 and a current ratio of 3.53. The stock’s 50-day simple moving average is $5.21 and its 200-day simple moving average is $6.44.

Snap (NYSE:SNAP) last announced its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts anticipate that Snap Inc. will post -0.07 earnings per share for the current fiscal year.

Key Headlines Impacting Snap

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Snap appointed Luke Wood, former President of Beats by Dr. Dre and a former Apple executive, to its board of directors. Investors may view the move as a credibility boost for Snap’s leadership and product strategy, especially given Wood’s experience at the intersection of technology and consumer brands. Luke Wood Joins Snap Inc. Board of Directors
• Neutral Sentiment: Several executive and director-level share sales were reported, but each filing said the transactions were made to cover tax withholding obligations tied to vesting equity awards. That makes the sales more routine than a clear signal of reduced confidence, though the volume may still weigh on investor sentiment. SEC filing for CFO Douglas Hott
• Neutral Sentiment: CFO Douglas Hott sold shares at about $5.60-$5.67, General Counsel Zachary M. Briers sold shares in two transactions, and CAO Rebecca Morrow also sold shares. Because these were insider transactions clustered around the same period, traders may interpret them cautiously even though the stated reason was tax-related. SEC filing for Zachary M. Briers
• Negative Sentiment: The size and timing of the insider sales could create near-term pressure on Snap Inc. (NYSE: SNAP) shares, even if they were routine. Investors often see multiple executive sales close together as a cautionary signal, especially ahead of any fresh operating updates. SEC filing for Rebecca Morrow

Analyst Ratings Changes

SNAP has been the topic of a number of analyst reports. Benchmark assumed coverage on Snap in a research report on Monday, April 27th. They set a “buy” rating on the stock. Freedom Capital lowered Snap from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Rosenblatt Securities reissued a “neutral” rating and issued a $6.40 price objective on shares of Snap in a report on Thursday, April 16th. Bank of America raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, February 5th. Finally, Cantor Fitzgerald lowered their price objective on Snap from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.91.

Hedge Funds Weigh In On Snap

Several institutional investors have recently made changes to their positions in SNAP. Alyeska Investment Group L.P. bought a new position in shares of Snap during the third quarter valued at approximately $176,697,000. AQR Capital Management LLC grew its holdings in shares of Snap by 874.3% during the fourth quarter. AQR Capital Management LLC now owns 10,066,852 shares of the company’s stock valued at $81,239,000 after purchasing an additional 9,033,644 shares during the last quarter. Empyrean Capital Partners LP bought a new position in shares of Snap during the first quarter valued at approximately $25,300,000. Junto Capital Management LP acquired a new position in shares of Snap during the third quarter worth approximately $29,071,000. Finally, Voloridge Investment Management LLC boosted its position in shares of Snap by 53.3% during the third quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock worth $79,420,000 after buying an additional 3,582,223 shares during the period. 47.52% of the stock is owned by institutional investors.

Snap Company Profile

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.