Snap Inc. (NYSE:SNAP) Short Interest Update

Snap Inc. (NYSE:SNAP - Get Free Report) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 62,170,000 shares, a drop of 19.0% from the January 15th total of 76,750,000 shares. Based on an average daily volume of 30,360,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 5.7% of the shares of the company are sold short.

Snap Trading Down 2.3 %

Snap stock traded down $0.25 during trading hours on Wednesday, reaching $10.79. 18,526,729 shares of the company's stock were exchanged, compared to its average volume of 31,917,766. The firm has a market capitalization of $18.30 billion, a PE ratio of -25.68 and a beta of 0.99. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm's 50 day simple moving average is $11.22 and its 200 day simple moving average is $10.73. Snap has a twelve month low of $8.29 and a twelve month high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Research analysts predict that Snap will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

SNAP has been the topic of several research reports. UBS Group upped their price target on shares of Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered their target price on shares of Snap from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Wednesday, February 5th. Barclays restated an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. Loop Capital upped their target price on Snap from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group raised their price target on Snap from $12.00 to $13.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $36.87.

Insider Buying and Selling at Snap

In other news, CFO Derek Andersen sold 94,164 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the completion of the sale, the chief financial officer now owns 2,193,806 shares in the company, valued at $25,097,140.64. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Eric Young sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $10.54, for a total value of $527,000.00. Following the transaction, the senior vice president now owns 752,110 shares in the company, valued at approximately $7,927,239.40. This trade represents a 6.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 308,029 shares of company stock valued at $3,518,695 in the last quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital International Investors acquired a new position in shares of Snap during the fourth quarter valued at about $422,049,000. Capital World Investors raised its stake in Snap by 38.9% during the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company's stock worth $906,161,000 after buying an additional 23,569,522 shares during the period. TB Alternative Assets Ltd. boosted its holdings in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company's stock worth $85,406,000 after acquiring an additional 4,098,847 shares in the last quarter. Norges Bank acquired a new stake in Snap in the fourth quarter valued at approximately $30,162,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Snap during the fourth quarter valued at approximately $27,713,000. 47.52% of the stock is owned by institutional investors.

About Snap

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.