Snap (NYSE:SNAP) General Counsel Zachary Briers Sells 134,705 Shares

Snap Inc. (NYSE:SNAP) General Counsel Zachary Briers sold 134,705 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total value of $633,113.50. Following the completion of the transaction, the general counsel owned 2,854,088 shares of the company’s stock, valued at $13,414,213.60. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Snap Trading Up 2.3%

Snap stock traded up $0.11 during trading on Thursday, reaching $4.99. The company had a trading volume of 45,997,016 shares, compared to its average volume of 58,450,742. Snap Inc. has a 12-month low of $4.65 and a 12-month high of $10.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.56 and a current ratio of 3.56. The stock’s 50 day moving average price is $7.13 and its two-hundred day moving average price is $7.56. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of -18.48 and a beta of 0.83.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on SNAP. B. Riley Financial raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Thursday, February 5th. BMO Capital Markets boosted their target price on shares of Snap from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Morgan Stanley increased their target price on shares of Snap from $8.50 to $9.50 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. The Goldman Sachs Group decreased their price target on shares of Snap from $9.50 to $8.50 and set a “neutral” rating for the company in a report on Tuesday, January 13th. Finally, Cantor Fitzgerald dropped their price objective on shares of Snap from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-one have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.43.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SNAP. Allworth Financial LP boosted its stake in Snap by 92.3% in the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after purchasing an additional 1,581 shares in the last quarter. Oak Harvest Investment Services acquired a new stake in shares of Snap in the fourth quarter valued at $26,000. Arax Advisory Partners lifted its position 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 buying an additional 2,275 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Snap during the 4th quarter worth about $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. Institutional investors and hedge funds own 47.52% of the company’s stock.

About Snap

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.