Snap (NYSE:SNAP) CAO Rebecca Morrow Sells 20,000 Shares

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $5.35, for a total transaction of $107,000.00. Following the completion of the sale, the chief accounting officer owned 578,105 shares in the company, valued at $3,092,861.75. This represents a 3.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Rebecca Morrow also recently made the following trade(s):

• On Monday, August 17th, Rebecca Morrow sold 17,336 shares of Snap stock. The stock was sold at an average price of $5.20, for a total transaction of $90,147.20.

Snap Price Performance

Shares of Snap stock traded up $0.14 during mid-day trading on Friday, reaching $5.67. 29,060,047 shares of the stock were exchanged, compared to its average volume of 34,733,076. Snap Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $9.28. The company has a market cap of $9.58 billion, a price-to-earnings ratio of -31.47 and a beta of 1.05. The firm has a 50-day simple moving average of $5.10 and a 200 day simple moving average of $5.17. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.75.

Snap (NYSE:SNAP) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $1.60 billion for 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%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.16) earnings per share. On average, sell-side analysts predict that Snap Inc. will post -0.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on SNAP. Wall Street Zen upgraded Snap from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Truist Financial cut their price objective on Snap from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, August 4th. Guggenheim reissued a “neutral” rating on shares of Snap in a research note on Wednesday, September 2nd. Zacks Research upgraded Snap from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. Finally, Mizuho raised their target price on Snap from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, twenty-four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.65.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNAP. Alyeska Investment Group L.P. acquired a new position in Snap during the 3rd quarter valued at about $176,697,000. AQR Capital Management LLC boosted its stake in Snap by 874.3% in the fourth quarter. AQR Capital Management LLC now owns 10,066,852 shares of the company’s stock valued at $81,239,000 after acquiring an additional 9,033,644 shares during the last quarter. Empyrean Capital Partners LP acquired a new stake in Snap during the 1st quarter worth $25,300,000. California State Teachers Retirement System grew its holdings in Snap by 268.8% during the 2nd quarter. California State Teachers Retirement System now owns 5,623,318 shares of the company’s stock worth $24,968,000 after acquiring an additional 4,098,404 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Snap by 1,191.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,903,141 shares of the company’s stock valued at $17,330,000 after acquiring an additional 3,601,002 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.