Snap Inc. (NYSE:SNAP - Get Free Report) shares traded up 6.8% during mid-day trading on Thursday . The stock traded as high as $10.33 and last traded at $10.33. 12,028,145 shares changed hands during trading, a decline of 56% from the average session volume of 27,326,072 shares. The stock had previously closed at $9.67.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SNAP. JMP Securities reissued a "market perform" rating on shares of Snap in a report on Wednesday. The Goldman Sachs Group reduced their target price on shares of Snap from $16.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. Roth Mkm restated a "neutral" rating and set a $14.00 target price on shares of Snap in a research report on Wednesday. Morgan Stanley upgraded Snap from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $12.00 to $16.00 in a research report on Tuesday, July 23rd. Finally, Hsbc Global Res cut Snap from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $13.87.
Check Out Our Latest Research Report on SNAP
Snap Stock Up 4.2 %
The firm has a market cap of $16.73 billion, a P/E ratio of -12.44 and a beta of 1.00. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The business has a 50-day moving average price of $10.70 and a 200-day moving average price of $12.81.
Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.24 billion during 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%. On average, equities analysts forecast that Snap Inc. will post -0.48 EPS for the current fiscal year.
Insider Activity at Snap
In other Snap news, CAO Rebecca Morrow sold 8,923 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30. Following the completion of the sale, the chief accounting officer now owns 472,405 shares in the company, valued at $4,298,885.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the transaction, the general counsel now owns 481,908 shares of the company's stock, valued at approximately $7,980,396.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Rebecca Morrow sold 8,923 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.10, for a total value of $81,199.30. Following the transaction, the chief accounting officer now directly owns 472,405 shares in the company, valued at $4,298,885.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,511,540 shares of company stock valued at $13,569,906 over the last ninety days. 22.68% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gryphon Financial Partners LLC purchased a new position in shares of Snap in the fourth quarter worth $204,000. Dimensional Fund Advisors LP lifted its position in shares of Snap by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,184,684 shares of the company's stock valued at $36,992,000 after acquiring an additional 351,837 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Snap by 12.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company's stock worth $683,000 after acquiring an additional 4,307 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Snap during the fourth quarter worth approximately $396,000. Finally, TCW Group Inc. acquired a new position in Snap in the 4th quarter valued at $275,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.
Snap Company Profile
(
Get Free Report)
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.
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