Snap (NYSE:SNAP) General Counsel Zachary Briers Sells 11,958 Shares

Snap Inc. (NYSE:SNAP) General Counsel Zachary Briers sold 11,958 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $6.00, for a total transaction of $71,748.00. Following the completion of the transaction, the general counsel owned 2,560,835 shares of the company’s stock, valued at $15,365,010. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Snap Price Performance

Shares of NYSE:SNAP traded down $0.31 during midday trading on Friday, hitting $5.76. The stock had a trading volume of 36,306,553 shares, compared to its average volume of 38,938,544. The company’s 50-day moving average price is $5.50 and its 200-day moving average price is $6.25. The company has a market capitalization of $9.72 billion, a P/E ratio of -23.99 and a beta of 1.03. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.67. Snap Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $10.41.

Snap (NYSE:SNAP) last issued its earnings results on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.14). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. Snap’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. As a group, equities research analysts predict that Snap Inc. will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently added to or reduced their stakes in SNAP. Allworth Financial LP grew its holdings in Snap by 92.3% during the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after acquiring an additional 1,581 shares during the last quarter. Oak Harvest Investment Services bought a new stake in Snap during the 4th quarter worth approximately $26,000. Arax Advisory Partners grew its holdings in Snap by 220.0% during the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock worth $27,000 after acquiring an additional 2,275 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Snap during the 4th quarter worth approximately $29,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Snap by 561.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after acquiring an additional 3,071 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Cantor Fitzgerald dropped their target price on shares of Snap from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. JPMorgan Chase & Co. lowered their price objective on shares of Snap from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Thursday, May 7th. Rothschild & Co Redburn upgraded shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Monday, April 27th. Barclays upgraded shares of Snap from an “overweight” rating to an “overweight” rating in a research report on Monday, April 27th. Finally, Roth Mkm set a $7.00 price objective on shares of Snap in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.91.

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.