Snap (NYSE:SNAP – Free Report) had its price target trimmed by Susquehanna from $15.00 to $12.00 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the stock.
SNAP has been the topic of several other reports. HSBC raised Snap from a reduce rating to a buy rating in a research report on Friday, April 26th. Wells Fargo & Company increased their price objective on Snap from $16.00 to $18.00 and gave the company an overweight rating in a research report on Friday, April 26th. Canaccord Genuity Group boosted their target price on Snap from $14.00 to $15.00 and gave the stock a hold rating in a research report on Friday, April 26th. UBS Group reduced their price target on shares of Snap from $14.00 to $13.00 and set a neutral rating for the company in a research note on Tuesday, April 16th. Finally, Evercore ISI increased their price objective on shares of Snap from $13.00 to $14.00 and gave the company an in-line rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $14.23.
View Our Latest Research Report on Snap
Snap Stock Down 1.1 %
Insider Buying and Selling at Snap
In related news, CFO Derek Andersen sold 26,682 shares of Snap stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $15.72, for a total transaction of $419,441.04. Following the transaction, the chief financial officer now owns 2,508,007 shares in the company, valued at approximately $39,425,870.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Rebecca Morrow sold 8,913 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total transaction of $141,805.83. Following the completion of the transaction, the chief accounting officer now owns 483,743 shares in the company, valued at $7,696,351.13. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Derek Andersen sold 26,682 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $15.72, for a total transaction of $419,441.04. Following the transaction, the chief financial officer now directly owns 2,508,007 shares of the company’s stock, valued at $39,425,870.04. The disclosure for this sale can be found here. Insiders have sold 225,078 shares of company stock valued at $3,518,129 over the last 90 days. 22.68% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. NBC Securities Inc. increased its holdings in shares of 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. Blue Trust Inc. raised its position in Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC bought a new stake in shares of Snap in the 2nd quarter valued at approximately $40,000. Allworth Financial LP boosted its holdings in shares of Snap by 161.6% in 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 period. Finally, J.Safra Asset Management Corp increased its position in shares of Snap by 534.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after purchasing an additional 2,330 shares during the last quarter. 47.52% of the stock is currently owned by 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.
Further Reading
- Five stocks we like better than Snap
- What Are Growth Stocks and Investing in Them
- Uber’s Earnings Beat: Rideshare and Delivery Surge
- How to Invest in Blue Chip Stocks
- Hims & Hers Reports Stellar Quarter: Stock Set for a Rally
- How to Invest in the Best Canadian StocksĀ
- Cloudflare Stock Flares Up on Solid EPS Beat and Raised Guidance
Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.