Snap Target of Unusually High Options Trading (NYSE:SNAP)

Snap Inc. (NYSE:SNAP) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 117,569 call options on the company. This is an increase of approximately 43% compared to the average volume of 81,936 call options.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America raised their target price on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Piper Sandler reissued a “neutral” rating and set a $13.00 price target (up from $12.00) on shares of Snap in a report on Wednesday, October 30th. Citigroup lifted their price objective on shares of Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. The Goldman Sachs Group increased their target price on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, 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. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Snap has a consensus rating of “Hold” and an average price target of $37.10.

Snap Trading Down 0.1 %

Shares of NYSE SNAP opened at $12.56 on Wednesday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap has a one year low of $8.29 and a one year high of $17.75. The business has a 50-day moving average price of $11.61 and a two-hundred day moving average price of $11.56. The firm has a market capitalization of $21.07 billion, a PE ratio of -21.65 and a beta of 0.98.

Snap (NYSE:SNAP) 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 business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the company posted ($0.21) earnings per share. As a group, analysts predict that Snap will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snap news, CFO Derek Andersen sold 17,789 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.00, for a total transaction of $213,468.00. Following the completion of the transaction, the chief financial officer now directly owns 2,176,017 shares of the company’s stock, valued at $26,112,204. The trade was a 0.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.54, for a total transaction of $129,800.10. Following the completion of the transaction, the general counsel now owns 1,195,567 shares of the company’s stock, valued at approximately $12,601,276.18. This trade represents a 1.02 % decrease in their position. 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 quarter. Insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

A number of hedge funds and other institutional investors have recently made changes to their positions in SNAP. V Square Quantitative Management LLC bought a new position in Snap during the third quarter valued at approximately $29,000. Paladin Wealth LLC acquired a new stake in shares of Snap in the third quarter worth about $30,000. Advisors Asset Management Inc. raised its stake 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 valued at $30,000 after acquiring an additional 1,632 shares in the last quarter. Hollencrest Capital Management acquired a new stake in Snap in the 2nd quarter worth approximately $33,000. Finally, Brooklyn Investment Group bought a new stake in Snap during the third quarter worth approximately $41,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.