Snap Sees Unusually Large Options Volume (NYSE:SNAP)

Snap Inc. (NYSE:SNAP - Get Free Report) was the target of unusually large options trading on Thursday. Investors purchased 128,528 call options on the stock. This is an increase of approximately 46% compared to the typical daily volume of 87,999 call options.

Snap Trading Up 1.6 %

Shares of SNAP stock traded up $0.15 on Monday, hitting $9.48. The company had a trading volume of 10,840,979 shares, compared to its average volume of 25,485,893. The stock's 50-day moving average is $10.38 and its two-hundred day moving average is $10.80. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The firm has a market cap of $16.08 billion, a P/E ratio of -22.57 and a beta of 0.92. Snap has a twelve month low of $8.29 and a twelve month high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, equities research analysts anticipate that Snap will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snap news, SVP Eric Young sold 102,152 shares of the business's stock in a transaction dated 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 sale, the senior vice president now directly owns 3,443,419 shares in the company, valued at approximately $37,326,661.96. The trade was a 2.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Derek Andersen sold 61,334 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $664,860.56. Following the sale, the chief financial officer now directly owns 3,564,235 shares in the company, valued at approximately $38,636,307.40. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,350,523 shares of company stock valued at $12,698,797. Insiders own 22.68% of the company's stock.

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Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mountain Hill Investment Partners Corp. purchased a new position in Snap during the fourth quarter worth about $27,000. Advisors Asset Management Inc. grew its position in Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock valued at $30,000 after buying an additional 1,632 shares during the period. Raiffeisen Bank International AG purchased a new stake in Snap during the fourth quarter worth about $30,000. Comprehensive Financial Planning Inc. PA bought a new stake in Snap in the fourth quarter worth about $32,000. Finally, Brooklyn Investment Group bought a new stake in Snap in the third quarter worth about $41,000. Institutional investors own 47.52% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Susquehanna boosted their target price on shares of Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Guggenheim cut shares of Snap from a "buy" rating to a "neutral" rating in a report on Tuesday, February 11th. Wells Fargo & Company downgraded Snap from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $15.00 to $11.00 in a report on Wednesday, February 5th. Citigroup increased their price objective on Snap from $13.00 to $13.50 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Finally, Citizens Jmp downgraded shares of Snap from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Snap currently has a consensus rating of "Hold" and an average price target of $36.87.

Snap Company Profile

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.