Zachary Briers Sells 11,257 Shares of Snap (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Zachary Briers sold 11,257 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $6.00, for a total value of $67,542.00. Following the completion of the sale, the general counsel directly owned 2,345,534 shares in the company, valued at approximately $14,073,204. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Snap Stock Performance

Shares of Snap stock traded down $0.04 during trading on Tuesday, reaching $5.43. The company’s stock had a trading volume of 21,090,873 shares, compared to its average volume of 34,613,128. 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 quick ratio of 2.94 and a current ratio of 2.94. The firm has a market cap of $9.19 billion, a price-to-earnings ratio of -30.19 and a beta of 1.05. The business’s fifty day moving average price is $5.05 and its 200-day moving average price is $5.16.

Snap (NYSE:SNAP) last announced its earnings results 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. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Snap had a negative return on equity of 14.61% and a negative net margin of 4.90%.The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.16) EPS. As a group, equities research analysts predict that Snap Inc. will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently bought and sold shares of SNAP. Arizona State Retirement System raised its stake in shares of Snap by 4.9% in the 2nd quarter. Arizona State Retirement System now owns 306,826 shares of the company’s stock valued at $1,362,000 after buying an additional 14,246 shares in the last quarter. Waverly Advisors LLC acquired a new stake in shares of Snap during the 2nd quarter valued at about $47,000. Nykredit A S acquired a new stake in shares of Snap during the 2nd quarter valued at about $163,000. Parkside Financial Bank & Trust increased its stake in Snap by 207.0% in the second quarter. Parkside Financial Bank & Trust now owns 23,060 shares of the company’s stock valued at $102,000 after acquiring an additional 15,548 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Snap in the second quarter worth about $332,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SNAP shares. Barclays raised their price objective on shares of Snap from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Truist Financial cut their target price on shares of Snap from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Sanford C. Bernstein reissued a “market perform” rating and issued a $5.00 price target on shares of Snap in a report on Tuesday, July 21st. Zacks Research upgraded shares of Snap from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of Snap in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, twenty-four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.65.

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.