Snap Inc. (NYSE:SNAP - Get Free Report) reached a new 52-week low during trading on Wednesday after UBS Group lowered their price target on the stock from $14.00 to $9.00. UBS Group currently has a neutral rating on the stock. Snap traded as low as $7.08 and last traded at $7.22, with a volume of 47499074 shares changing hands. The stock had previously closed at $7.73.
Other equities analysts also recently issued research reports about the company. Bank of America decreased their target price on Snap from $14.50 to $10.50 and set a "neutral" rating on the stock in a research report on Wednesday. Piper Sandler lowered their price objective on Snap from $13.00 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday. Wells Fargo & Company reduced their target price on shares of Snap from $11.00 to $9.00 and set an "equal weight" rating for the company in a research report on Monday, March 31st. Guggenheim reaffirmed a "neutral" rating on shares of Snap in a research report on Wednesday, April 2nd. Finally, Citigroup increased their target price on shares of Snap from $13.00 to $13.50 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Snap has a consensus rating of "Hold" and a consensus target price of $36.32.
Check Out Our Latest Stock Analysis on SNAP
Insider Transactions at Snap
In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the transaction, the chief technology officer now owns 55,818,548 shares in the company, valued at $504,599,673.92. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Derek Andersen sold 22,720 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.58, for a total transaction of $194,937.60. Following the sale, the chief financial officer now directly owns 3,541,515 shares in the company, valued at $30,386,198.70. The trade was a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,356,523 shares of company stock worth $12,710,077 in the last 90 days. Insiders own 22.68% of the company's stock.
Institutional Investors Weigh In On Snap
Institutional investors and hedge funds have recently made changes to their positions in the business. Prospect Financial Services LLC purchased a new position in Snap in the 1st quarter worth approximately $100,000. Intellectus Partners LLC purchased a new position in Snap in the 1st quarter worth $103,000. NBC Securities Inc. raised its position in Snap by 154,650.0% in the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after purchasing an additional 3,093 shares during the period. Rhumbline Advisers lifted its stake in shares of Snap by 10.2% in the 1st quarter. Rhumbline Advisers now owns 192,210 shares of the company's stock valued at $1,674,000 after acquiring an additional 17,868 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Snap by 19.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company's stock worth $184,000 after purchasing an additional 2,792 shares during the period. Hedge funds and other institutional investors own 47.52% of the company's stock.
Snap Stock Performance
The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The stock has a market cap of $13.55 billion, a PE ratio of -19.01 and a beta of 0.92. The business has a 50 day moving average price of $9.48 and a two-hundred day moving average price of $10.67.
Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, equities research analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.
About Snap
(
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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