Snap (NYSE:SNAP)‘s stock had its “sell” rating reaffirmed by Pivotal Research in a note issued to investors on Wednesday. They currently have a $10.00 price target on the stock. Pivotal Research’s price target would indicate a potential downside of 30.94% from the company’s current price.
Several other research firms have also commented on SNAP. Vetr raised shares of Snap from a “strong sell” rating to a “hold” rating and set a $16.13 price target on the stock in a research report on Friday, October 13th. Zacks Investment Research lowered shares of Snap from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Drexel Hamilton reaffirmed a “buy” rating and set a $28.00 price target on shares of Snap in a research report on Friday, December 15th. SunTrust Banks reaffirmed a “sell” rating and set a $10.00 price target on shares of Snap in a research report on Thursday, October 12th. Finally, Cowen lowered shares of Snap from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $12.00 to $11.00 in a research report on Thursday, January 4th. Seventeen investment analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.23.
Snap (NYSE SNAP) traded up $0.38 during mid-day trading on Wednesday, hitting $14.48. 4,920,000 shares of the stock traded hands, compared to its average volume of 19,660,000. The stock has a market cap of $17,430.00 and a price-to-earnings ratio of -4.55. Snap has a 1 year low of $11.28 and a 1 year high of $29.44.
In related news, CFO Andrew Vollero sold 70,566 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $16.09, for a total value of $1,135,406.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mitchell Lasky sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $12.38, for a total transaction of $309,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,815,711 shares of company stock valued at $50,490,018.
A number of institutional investors and hedge funds have recently made changes to their positions in SNAP. First Manhattan Co. lifted its position in Snap by 384.5% in the third quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock valued at $110,000 after acquiring an additional 6,056 shares during the last quarter. WFG Advisors LP lifted its position in Snap by 52.4% in the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock valued at $131,000 after acquiring an additional 2,537 shares during the last quarter. Nelson Roberts Investment Advisors LLC lifted its position in Snap by 10,033.0% in the third quarter. Nelson Roberts Investment Advisors LLC now owns 10,133 shares of the company’s stock valued at $147,000 after acquiring an additional 10,033 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in Snap in the second quarter valued at $148,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Snap by 9,588.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,688 shares of the company’s stock valued at $172,000 after acquiring an additional 9,588 shares during the last quarter. 18.88% of the stock is owned by hedge funds and other institutional investors.
Snap Company Profile
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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