Investors Purchase Large Volume of Snap Call Options (NYSE:SNAP)

Snap Inc. (NYSE:SNAP - Get Free Report) saw some unusual options trading on Tuesday. Stock traders bought 117,569 call options on the stock. This is an increase of 43% compared to the typical daily volume of 81,936 call options.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Piper Sandler reiterated a "neutral" rating and issued a $13.00 price target (up from $12.00) on shares of Snap in a research report on Wednesday, October 30th. Citigroup raised their target price on Snap from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, November 29th. JMP Securities reissued a "market outperform" rating and set a $16.00 price target on shares of Snap in a report on Friday. Canaccord Genuity Group boosted their price objective on Snap from $12.00 to $13.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their target price on shares of Snap from $12.00 to $13.50 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Snap has an average rating of "Hold" and a consensus target price of $37.10.

Snap Trading Down 0.1 %

Snap stock traded down $0.01 during midday trading on Tuesday, reaching $12.56. The stock had a trading volume of 27,531,218 shares, compared to its average volume of 23,922,318. Snap has a 52-week low of $8.29 and a 52-week high of $17.75. The company has a fifty day moving average of $11.61 and a 200 day moving average of $11.56. The firm has a market cap of $21.07 billion, a price-to-earnings ratio of -21.65 and a beta of 0.98. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm's revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) EPS. On average, analysts anticipate that Snap will post -0.4 earnings per share for the current fiscal year.

Insider Activity at Snap

In related news, Director Joanna Coles sold 6,434 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the sale, the director now owns 54,761 shares in the company, valued at approximately $657,132. This represents a 10.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the transaction, the chief technology officer now directly owns 57,210,989 shares in the company, valued at $715,137,362.50. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,451,618 shares of company stock valued at $17,560,157 over the last ninety days. Insiders own 22.68% of the company's stock.

Hedge Funds Weigh In On Snap

Several institutional investors have recently made changes to their positions in SNAP. Hollencrest Capital Management bought a new stake in Snap during the second quarter valued at about $33,000. V Square Quantitative Management LLC purchased a new stake in shares of Snap during the third quarter valued at about $29,000. Paladin Wealth LLC bought a new stake in shares of Snap in the 3rd quarter valued at about $30,000. Advisors Asset Management Inc. grew its position in shares of Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock worth $30,000 after buying an additional 1,632 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Snap during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 47.52% of the company's stock.

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.