Snap Inc. (NYSE:SNAP - Get Free Report)'s share price rose 2.1% during mid-day trading on Friday . The stock traded as high as $8.04 and last traded at $8.19. Approximately 3,801,158 shares changed hands during trading, a decline of 86% from the average daily volume of 27,337,497 shares. The stock had previously closed at $8.02.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday. Barclays reissued an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. Wells Fargo & Company dropped their price target on Snap from $11.00 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, March 31st. Susquehanna raised their price objective on Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Snap in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Snap presently has an average rating of "Hold" and an average price target of $36.58.
Check Out Our Latest Stock Report on Snap
Snap Trading Up 22.7 %
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's 50 day moving average is $9.72 and its 200-day moving average is $10.73. The company has a market capitalization of $15.05 billion, a P/E ratio of -21.13 and a beta of 0.92.
Snap (NYSE:SNAP - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (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%. As a group, equities research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.
Insiders Place Their Bets
In other Snap news, SVP Eric Young sold 102,152 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the transaction, the senior vice president now owns 3,443,419 shares of the company's stock, valued at approximately $37,326,661.96. This trade represents a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. O'sullivan sold 24,000 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $8.60, for a total value of $206,400.00. Following the completion of the sale, the general counsel now directly owns 507,660 shares in the company, valued at approximately $4,365,876. This represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,356,523 shares of company stock worth $12,710,077. 22.68% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Snap
A number of institutional investors have recently modified their holdings of SNAP. NBC Securities Inc. boosted its stake 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 in the last quarter. Rhumbline Advisers raised its holdings in Snap by 10.2% in the first quarter. Rhumbline Advisers now owns 192,210 shares of the company's stock worth $1,674,000 after buying an additional 17,868 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Snap by 19.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company's stock worth $184,000 after buying an additional 2,792 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Snap in the fourth quarter worth approximately $3,838,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Snap during the fourth quarter valued at approximately $5,135,000. 47.52% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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