Snap Sees Unusually High Options Volume (NYSE:SNAP)

Snap Inc. (NYSE:SNAP - Get Free Report) was the recipient of unusually large options trading on Wednesday. Investors bought 101,349 call options on the company. This represents an increase of approximately 17% compared to the typical volume of 86,401 call options.

Insider Transactions at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the transaction, the chief technology officer now directly owns 58,553,813 shares of the company's stock, valued at approximately $508,832,634.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now directly owns 58,553,813 shares of the company's stock, valued at $508,832,634.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Michael J. O'sullivan sold 18,000 shares of Snap stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $10.81, for a total value of $194,580.00. Following the completion of the sale, the general counsel now owns 489,058 shares of the company's stock, valued at $5,286,716.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,490,617 shares of company stock worth $13,183,890. 22.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snap

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. Hollencrest Capital Management acquired a new stake in shares of Snap during the 2nd quarter worth approximately $33,000. Blue Trust Inc. increased its stake in Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock worth $36,000 after acquiring an additional 1,682 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Snap in the second quarter valued at $40,000. V Square Quantitative Management LLC acquired a new position in shares of Snap in the 3rd quarter valued at $29,000. Finally, Paladin Wealth LLC acquired a new stake in shares of Snap during the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 47.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SNAP. Evercore ISI upped their price objective on Snap from $12.00 to $15.00 and gave the stock an "in-line" rating in a research note on Wednesday. Susquehanna cut their price objective on shares of Snap from $15.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of Snap from $13.00 to $11.00 and set an "underweight" rating for the company in a research report on Friday, August 2nd. Citigroup cut their price target on shares of Snap from $16.00 to $11.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Finally, The Goldman Sachs Group raised their price objective on Snap from $12.00 to $13.50 and gave the stock a "neutral" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $14.25.

Snap Price Performance

Shares of Snap stock traded up $1.73 during trading hours on Wednesday, reaching $12.62. 101,955,930 shares of the company's stock were exchanged, compared to its average volume of 27,337,439. The business has a fifty day moving average of $9.99 and a two-hundred day moving average of $12.69. The company has a market capitalization of $20.71 billion, a P/E ratio of -15.72 and a beta of 1.01. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. Snap has a 1 year low of $8.29 and a 1 year high of $17.90.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. As a group, research analysts predict that Snap will post -0.47 earnings per share for the current fiscal year.

Snap Company Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.