Snap (NYSE:SNAP) Trading Up 6.8%

Snap Inc. (NYSE:SNAP) traded up 6.8% on Thursday . The company traded as high as $10.33 and last traded at $10.33. 12,028,145 shares changed hands during trading, a decline of 56% from the average session volume of 27,326,072 shares. The stock had previously closed at $9.67.

Wall Street Analyst Weigh In

Several brokerages recently commented on SNAP. Hsbc Global Res downgraded Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Roth Mkm reissued a “neutral” rating and set a $14.00 target price on shares of Snap in a research note on Wednesday. JMP Securities restated a “market perform” rating on shares of Snap in a report on Wednesday. Susquehanna cut their target price on Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Barclays decreased their target price on shares of Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snap currently has an average rating of “Hold” and a consensus price target of $13.76.

Snap Trading Down 0.1 %

The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The firm has a market capitalization of $16.69 billion, a P/E ratio of -12.42 and a beta of 1.00. The firm has a 50-day moving average of $10.58 and a 200-day moving average of $12.81.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. On average, equities research analysts anticipate that Snap Inc. will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $16.56, for a total value of $298,080.00. Following the transaction, the general counsel now directly owns 481,908 shares in the company, valued at $7,980,396.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.56, for a total transaction of $298,080.00. Following the completion of the sale, the general counsel now directly owns 481,908 shares of the company’s stock, valued at $7,980,396.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Young sold 114,097 shares of Snap stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the sale, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at $27,710,096.53. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,511,540 shares of company stock valued at $13,569,906. 22.68% of the stock is owned by company insiders.

Institutional Trading of Snap

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Carmignac Gestion acquired a new position in Snap during the 4th quarter valued at about $110,103,000. TCW Group Inc. purchased a new stake in shares of Snap during the fourth quarter valued at $275,000. V Square Quantitative Management LLC increased its position in shares of Snap by 72.7% in the 4th quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock valued at $188,000 after acquiring an additional 4,679 shares during the period. Alta Park Capital LP purchased a new position in Snap in the 4th quarter worth $13,845,000. Finally, Contrarius Investment Management Ltd purchased a new position in Snap in the 4th quarter worth $80,644,000. Institutional investors own 47.52% of the company’s stock.

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.