Snap (NYSE:SNAP) Insider Ajit Mohan Sells 28,058 Shares of Stock

Snap Inc. (NYSE:SNAP) insider Ajit Mohan sold 28,058 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $6.02, for a total transaction of $168,909.16. Following the completion of the transaction, the insider owned 5,102,676 shares of the company’s stock, valued at $30,718,109.52. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ajit Mohan also recently made the following trade(s):

• On Monday, March 16th, Ajit Mohan sold 27,743 shares of Snap stock. The stock was sold at an average price of $4.59, for a total transaction of $127,340.37.
• On Tuesday, February 17th, Ajit Mohan sold 119,339 shares of Snap stock. The stock was sold at an average price of $4.70, for a total transaction of $560,893.30.

Snap Stock Performance

NYSE:SNAP opened at $6.03 on Friday. The firm has a 50-day moving average of $4.91 and a two-hundred day moving average of $6.78. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56. The stock has a market cap of $10.18 billion, a P/E ratio of -22.31 and a beta of 0.91. Snap Inc. has a 1-year low of $3.81 and a 1-year high of $10.41.

Snap (NYSE:SNAP) last announced its earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Snap had a negative return on equity of 20.72% and a negative net margin of 7.76%.The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the firm posted $0.01 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts expect that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Snap News Roundup

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Large workforce cut aimed at AI efficiencies and cost savings — management will eliminate ~1,000 roles (about 16% of staff), closing ~300 open roles; the market initially reacted favorably on the prospect of faster path to profitability. Snap cuts 1,000 jobs as AI drives wave of tech sector layoffs
• Positive Sentiment: Analyst bullish move — BMO Capital raised its price target to $15 (from $13) and kept an Outperform rating, signaling some analysts see the restructuring as a potential catalyst for re-rating. BMO Raises Snap’s Target After 1,000-Job Cut
• Positive Sentiment: Other tactical bullish calls — Roth Capital and commentators highlighted Snap’s long-standing AI/AR assets and suggested the stock can be a tactical buy if cost cuts accelerate margin improvement. Is Snap Inc. Really Worth It After Roth Capital Names It A Positive Tactical Trade?
• Neutral Sentiment: Mixed analyst positioning — Guggenheim and Rosenblatt reaffirmed Neutral ratings with modest targets ($6.50 and $6.40), implying limited near-term upside from current levels absent clearer proof the restructuring boosts profits. Benzinga coverage of analyst ratings
• Neutral Sentiment: Market reaction has been volatile — Zacks and other outlets noted a recent intraday surge on heavy volume but warned momentum may not persist without earnings revisions. Snap (SNAP) Surges 7.9%: Is This an Indication of Further Gains?
• Neutral Sentiment: Analyst/feature pieces evaluating the restructure — commentary such as Seeking Alpha’s “Cutting The Bloat” treats the layoffs as a possible necessary reset but flags execution risk. Snap: Cutting The Bloat
• Negative Sentiment: Investor lawsuit probe launched — Pomerantz LLP is investigating potential claims on behalf of shareholders, raising legal and disclosure risk that could create downside if investigations progress. Pomerantz investigates claims on behalf of Snap investors
• Negative Sentiment: Reputational/leadership hit — CEO Evan Spiegel faced backlash after appearing at Coachella shortly before announcing layoffs, a PR headwind that can weigh on sentiment and employee morale. Snap CEO faces backlash over Coachella appearance
• Negative Sentiment: Critical coverage and activist pressure — opinion pieces question Snap’s structural competitiveness, and activist Irenic Capital’s push for deeper cost savings increases governance scrutiny and execution risk. Snap Was Always A Terrible Company Snapchat parent company cuts 1,000 jobs

Hedge Funds Weigh In On Snap

Several large investors have recently added to or reduced their stakes in SNAP. Alyeska Investment Group L.P. bought a new stake in Snap during the third quarter valued at $176,697,000. AQR Capital Management LLC lifted its position in shares of Snap by 874.3% in 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 last quarter. Junto Capital Management LP acquired a new position in shares of Snap in the 3rd quarter valued at about $29,071,000. Voloridge Investment Management LLC boosted its holdings in shares of Snap by 53.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock valued at $79,420,000 after buying an additional 3,582,223 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Snap by 537.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,150,134 shares of the company’s stock valued at $33,492,000 after buying an additional 3,499,578 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BNP Paribas Exane started coverage on Snap in a research report on Wednesday, January 14th. They issued a “strong sell” rating on the stock. Roth Mkm set a $7.00 price target on shares of Snap in a research note on Thursday, February 5th. Morgan Stanley cut their price target on shares of Snap from $9.50 to $6.50 and set an “equal weight” rating on the stock in a report on Sunday, February 22nd. Loop Capital set a $8.00 price objective on shares of Snap in a research note on Monday, February 23rd. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $8.00 target price on shares of Snap in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Snap has an average rating of “Hold” and an average price target of $8.17.

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.