Snap Inc. (NYSE:SNAP - Get Free Report) shares rose 6.3% on Friday . The company traded as high as $13.28 and last traded at $12.80. Approximately 17,214,273 shares were traded during trading, a decline of 21% from the average daily volume of 21,841,229 shares. The stock had previously closed at $12.04.
Wall Street Analyst Weigh In
Several brokerages have weighed in on SNAP. Benchmark reaffirmed a "hold" rating on shares of Snap in a research note on Friday, October 25th. Guggenheim restated a "buy" rating and set a $12.11 price objective on shares of Snap in a research note on Tuesday, December 3rd. Bank of America increased their target price on shares of Snap from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Truist Financial boosted their price target on shares of Snap from $13.00 to $14.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their price objective on shares of Snap from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $37.10.
Read Our Latest Analysis on SNAP
Snap Trading Up 3.6 %
The firm has a market capitalization of $20.91 billion, a P/E ratio of -21.50 and a beta of 0.98. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The company's fifty day moving average is $11.59 and its 200-day moving average is $11.56.
Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted ($0.21) EPS. The company's revenue was up 15.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Snap Inc. will post -0.4 earnings per share for the current fiscal year.
Insider Activity at Snap
In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the firm's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the transaction, the general counsel now directly owns 498,498 shares of the company's stock, valued at approximately $5,403,718.32. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 2,812 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the sale, the chief accounting officer now directly owns 430,252 shares in the company, valued at approximately $4,922,082.88. The trade was a 0.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,451,618 shares of company stock worth $17,560,157. Company insiders own 22.68% of the company's stock.
Institutional Trading of Snap
Institutional investors have recently bought and sold shares of the stock. TD Asset Management Inc boosted its stake in shares of Snap by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 167,755 shares of the company's stock valued at $2,786,000 after purchasing an additional 3,376 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Snap in the second quarter valued at about $693,000. PFG Investments LLC grew its stake in Snap by 62.9% during the second quarter. PFG Investments LLC now owns 27,321 shares of the company's stock worth $454,000 after buying an additional 10,545 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Snap by 43.7% during the second quarter. Daiwa Securities Group Inc. now owns 166,592 shares of the company's stock worth $2,767,000 after buying an additional 50,622 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Snap by 50.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 282,754 shares of the company's stock valued at $4,702,000 after acquiring an additional 94,532 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company's stock.
About Snap
(
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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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