Snap (NYSE:SNAP) Stock Price Up 6.3%

Snap Inc. (NYSE:SNAPGet Rating) shares rose 6.3% during trading on Monday . The stock traded as high as $12.36 and last traded at $12.35. Approximately 1,708,163 shares were traded during trading, a decline of 96% from the average daily volume of 43,938,375 shares. The stock had previously closed at $11.62.

Wall Street Analysts Forecast Growth

SNAP has been the subject of several analyst reports. Barclays reduced their price objective on Snap from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. Deutsche Bank Aktiengesellschaft downgraded Snap from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $14.00 in a research note on Friday, July 22nd. Huber Research downgraded Snap from an “overweight” rating to an “underweight” rating in a research note on Monday, June 6th. Credit Suisse Group reduced their price objective on Snap from $59.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, July 18th. Finally, MKM Partners cut their target price on Snap from $41.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. Three analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Snap has an average rating of “Hold” and an average target price of $21.94.

Snap Stock Performance

The business has a 50 day simple moving average of $12.56 and a two-hundred day simple moving average of $24.38. The company has a current ratio of 5.65, a quick ratio of 5.65 and a debt-to-equity ratio of 1.09.

Insiders Place Their Bets

In related news, VP Jerry James Hunter sold 42,105 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $22.67, for a total value of $954,520.35. Following the transaction, the vice president now directly owns 665,813 shares of the company’s stock, valued at approximately $15,093,980.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO Robert C. Murphy sold 900,000 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $9.80, for a total value of $8,820,000.00. Following the transaction, the chief technology officer now directly owns 73,869,215 shares of the company’s stock, valued at approximately $723,918,307. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jerry James Hunter sold 42,105 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $22.67, for a total value of $954,520.35. Following the completion of the transaction, the vice president now directly owns 665,813 shares in the company, valued at $15,093,980.71. The disclosure for this sale can be found here. Insiders have sold a total of 1,160,827 shares of company stock valued at $12,460,958 in the last quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. National Pension Service raised its position in Snap by 5.1% in the second quarter. National Pension Service now owns 1,846,485 shares of the company’s stock valued at $24,244,000 after purchasing an additional 88,938 shares during the period. First Republic Investment Management Inc. raised its position in Snap by 40.5% in the second quarter. First Republic Investment Management Inc. now owns 554,912 shares of the company’s stock valued at $7,286,000 after purchasing an additional 159,981 shares during the period. Castleview Partners LLC raised its position in Snap by 1,213.0% in the second quarter. Castleview Partners LLC now owns 2,626 shares of the company’s stock valued at $200,000 after purchasing an additional 2,426 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in Snap by 7.4% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,440 shares of the company’s stock valued at $176,000 after purchasing an additional 930 shares during the period. Finally, CastleKnight Management LP purchased a new position in Snap in the second quarter valued at about $467,000. 53.88% of the stock is owned by hedge funds and other institutional investors.

Snap Company Profile

(Get Rating)

Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

Featured Stories

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.