Snap (NYSE:SNAP) Shares Down 4.3%

Snap Inc. (NYSE:SNAP - Get Free Report) was down 4.3% on Monday . The company traded as low as $9.05 and last traded at $9.11. Approximately 3,053,640 shares were traded during trading, a decline of 89% from the average daily volume of 27,209,064 shares. The stock had previously closed at $9.52.

Analyst Ratings Changes

SNAP has been the topic of several recent analyst reports. Susquehanna cut their price target on shares of Snap from $15.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. Hsbc Global Res cut Snap from a "strong-buy" rating to a "hold" rating in a report on Friday, August 2nd. Wolfe Research initiated coverage on Snap in a report on Tuesday, July 16th. They set a "peer perform" rating on the stock. JPMorgan Chase & Co. dropped their price target on shares of Snap from $13.00 to $11.00 and set an "underweight" rating on the stock in a research report on Friday, August 2nd. Finally, Piper Sandler reiterated a "neutral" rating and set a $12.00 price target (down from $15.00) on shares of Snap in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $13.87.

Snap Stock Up 1.3 %

The firm has a 50-day moving average price of $11.25 and a two-hundred day moving average price of $12.88. The company has a market capitalization of $16.00 billion, a P/E ratio of -11.25 and a beta of 1.00. 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 (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 the consensus estimate of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. Equities research analysts anticipate that Snap Inc. will post -0.48 EPS for the current fiscal year.

Insider Activity

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief technology officer now owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Rebecca Morrow sold 8,923 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were 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 of the company's stock, valued at $4,298,885.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the transaction, the chief technology officer now directly owns 58,553,813 shares in the company, valued at $508,832,634.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,352,420 shares of company stock worth $12,091,682. Company insiders own 22.68% of the company's stock.

Hedge Funds Weigh In On Snap

A number of institutional investors have recently modified their holdings of SNAP. Steward Partners Investment Advisory LLC lifted its position in Snap by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company's stock valued at $698,000 after purchasing an additional 891 shares during the period. GraniteShares Advisors LLC lifted its holdings in Snap by 2.5% in the second quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company's stock valued at $634,000 after buying an additional 941 shares during the period. Charles Schwab Investment Advisory Inc. boosted its stake in Snap by 2.7% in the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company's stock valued at $411,000 after acquiring an additional 956 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in Snap by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company's stock worth $448,000 after acquiring an additional 1,048 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of Snap by 6.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company's stock valued at $333,000 after acquiring an additional 1,232 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

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.