Snap (NYSE:SNAP) Trading Up 5.8%

Snap Inc. (NYSE:SNAP) shares were up 5.8% during mid-day trading on Wednesday . The stock traded as high as $11.45 and last traded at $11.01. Approximately 37,208,842 shares were traded during mid-day trading, an increase of 28% from the average daily volume of 29,138,225 shares. The stock had previously closed at $10.41.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SNAP shares. Roth Mkm lifted their price target on Snap from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. BMO Capital Markets reduced their price objective on Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Rosenblatt Securities boosted their price objective on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. UBS Group reduced their price objective on Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upgraded Snap from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.86.

Snap Trading Down 4.0 %

The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. The firm has a 50-day moving average of $11.21 and a 200 day moving average of $12.71. The company has a market cap of $18.42 billion, a P/E ratio of -14.01 and a beta of 1.13.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, February 6th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. On average, analysts predict that Snap Inc. will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the transaction, the general counsel now owns 461,005 shares in the company, valued at $7,449,840.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the transaction, the general counsel now owns 461,005 shares in the company, valued at $7,449,840.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Evan Spiegel sold 150,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total value of $1,666,500.00. Following the completion of the transaction, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock worth $5,284,091 in the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Snap by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after purchasing an additional 3,503,230 shares during the last quarter. SRS Investment Management LLC raised its stake in shares of Snap by 23.6% in the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after purchasing an additional 12,452,415 shares during the last quarter. Capital World Investors raised its stake in shares of Snap by 0.6% in the fourth quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock worth $776,868,000 after purchasing an additional 274,176 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Snap by 28.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,959,640 shares of the company’s stock worth $320,988,000 after purchasing an additional 4,243,620 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Snap by 95.8% in the first quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock worth $641,028,000 after purchasing an additional 8,712,380 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.