Snap (NYSE:SNAP) Shares Up 3.2%

Snap Inc. (NYSE:SNAP)’s share price shot up 3.2% during trading on Monday . The stock traded as high as $16.62 and last traded at $16.57. 2,280,710 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 31,598,398 shares. The stock had previously closed at $16.05.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNAP. Raymond James reaffirmed an “outperform” rating and issued a $16.00 target price (up previously from $15.00) on shares of Snap in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft raised Snap from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. Canaccord Genuity Group raised 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. Stifel Nicolaus raised their target price on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company lifted 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. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Snap currently has an average rating of “Hold” and an average target price of $14.79.

Snap Stock Down 4.9 %

The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76. The business has a 50 day moving average price of $12.90 and a 200 day moving average price of $13.66. The firm has a market capitalization of $25.65 billion, a P/E ratio of -19.31 and a beta of 1.02.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. On average, analysts predict that Snap Inc. will post -0.44 earnings per share for the current year.

Insider Transactions at Snap

In related news, SVP Eric Young sold 115,915 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $15.91, for a total transaction of $1,844,207.65. Following the transaction, the senior vice president now directly owns 3,292,657 shares in the company, valued at $52,386,172.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Eric Young sold 115,915 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $15.91, for a total transaction of $1,844,207.65. Following the transaction, the senior vice president now directly owns 3,292,657 shares in the company, valued at $52,386,172.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 12,695 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $15.91, for a total value of $201,977.45. Following the transaction, the general counsel now owns 1,460,617 shares in the company, valued at $23,238,416.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,509,829 shares of company stock worth $21,263,829.

Institutional Investors Weigh In On Snap

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Snap by 1.5% during the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock valued at $818,067,000 after purchasing an additional 1,352,655 shares in the last quarter. Jump Financial LLC boosted its holdings in shares of Snap by 565.4% in the 3rd quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock worth $2,343,000 after acquiring an additional 223,432 shares in the last quarter. 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 acquiring an additional 1,708 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of Snap in the 3rd quarter worth approximately $423,000. Finally, Korea Investment CORP boosted its holdings in shares of Snap by 191.7% in the 3rd quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock worth $3,703,000 after acquiring an additional 273,156 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

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.