Snap (NYSE:SNAP) Stock Price Up 6.8%

Shares of Snap Inc. (NYSE:SNAP) rose 6.8% during mid-day trading on Thursday . The stock traded as high as $10.33 and last traded at $10.33. Approximately 12,028,145 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 27,326,072 shares. The stock had previously closed at $9.67.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SNAP. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $14.00 price objective on shares of Snap in a report on Wednesday. Susquehanna reduced their price objective on shares of Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. JMP Securities reiterated a “market perform” rating on shares of Snap in a research report on Wednesday. Hsbc Global Res downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Snap in a research note on Wednesday. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus price target of $13.87.

Snap Stock Performance

The company’s fifty day moving average is $10.82 and its two-hundred day moving average is $12.83. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

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

Insider Buying and Selling at Snap

In related news, SVP Eric Young sold 114,097 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at approximately $27,710,096.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Eric Young sold 114,097 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the transaction, the senior vice president now directly owns 3,041,723 shares in the company, valued at $27,710,096.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total value of $239,040.00. Following the completion of the sale, the general counsel now directly owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,511,540 shares of company stock valued at $13,569,906. Corporate insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently modified their holdings of SNAP. Steward Partners Investment Advisory LLC grew its holdings in shares of Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after purchasing an additional 891 shares in the last quarter. GraniteShares Advisors LLC boosted its stake in Snap by 2.5% in the second quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after acquiring an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. grew its stake in Snap by 2.7% during the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after buying an additional 956 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Snap by 4.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after acquiring an additional 1,048 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its stake in Snap by 6.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after purchasing an additional 1,232 shares during the period. 47.52% of the stock is 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.