Snap (NYSE:SNAP) Trading Down 2.4%

Snap Inc. (NYSE:SNAP) was down 2.4% during mid-day trading on Friday . The company traded as low as $15.66 and last traded at $15.98. Approximately 1,767,563 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 27,691,211 shares. The stock had previously closed at $16.37.

Analyst Ratings Changes

A number of analysts recently issued reports on SNAP shares. Royal Bank of Canada boosted their price target on Snap from $13.00 to $16.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. UBS Group lowered their price target on Snap from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Truist Financial boosted their price target on Snap from $12.00 to $16.00 and gave the company a “hold” rating in a report on Friday, April 26th. Morgan Stanley upped their target price on Snap from $11.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday, April 26th. Finally, Rosenblatt Securities upped their target price on Snap from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus target price of $14.82.

Snap Stock Down 0.7 %

The stock has a 50 day simple moving average of $15.90 and a two-hundred day simple moving average of $14.17. The company has a debt-to-equity ratio of 1.55, a quick ratio of 3.76 and a current ratio of 3.76.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. Analysts forecast that Snap Inc. will post -0.43 EPS for the current year.

Insider Activity at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $14.27, for a total value of $14,270,000.00. Following the completion of the transaction, the chief technology officer now owns 59,894,865 shares in the company, valued at approximately $854,699,723.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $14.27, for a total value of $14,270,000.00. Following the completion of the transaction, the chief technology officer now owns 59,894,865 shares in the company, valued at approximately $854,699,723.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joanna Coles sold 3,950 shares of Snap stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $15.17, for a total value of $59,921.50. Following the completion of the transaction, the director now owns 46,492 shares of the company’s stock, valued at approximately $705,283.64. The disclosure for this sale can be found here. Insiders sold a total of 1,372,583 shares of company stock worth $19,934,275 in the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Institutional investors have recently bought and sold shares of the company. NBC Securities Inc. boosted its holdings in Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after buying an additional 1,445 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in Snap in the fourth quarter valued at approximately $51,000. Rakuten Securities Inc. acquired a new position in Snap in the fourth quarter valued at approximately $73,000. Finally, Westpac Banking Corp lifted its holdings in Snap by 108.7% in the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after acquiring an additional 2,506 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.