The Goldman Sachs Group Trims Snap (NYSE:SNAP) Target Price to $12.00

Snap (NYSE:SNAP) had its price target decreased by The Goldman Sachs Group from $16.00 to $12.00 in a research report sent to investors on Friday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

SNAP has been the topic of a number of other reports. Wells Fargo & Company boosted their target price on shares of Snap from $16.00 to $18.00 and gave the stock an overweight rating in a report on Friday, April 26th. Susquehanna dropped their price target on shares of Snap from $15.00 to $12.00 and set a neutral rating for the company in a research note on Friday. Bank of America lowered their price objective on shares of Snap from $16.00 to $13.00 and set a neutral rating for the company in a research report on Friday. Canaccord Genuity Group boosted their price objective on shares of Snap from $14.00 to $15.00 and gave the company a hold rating in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Snap from $13.00 to $11.00 and set an underweight rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $14.23.

Snap Stock Performance

Shares of Snap stock traded down $0.52 on Friday, hitting $8.84. 27,392,588 shares of the company’s stock were exchanged, compared to its average volume of 28,007,262. The company has a 50-day simple moving average of $15.21 and a 200-day simple moving average of $13.83. The stock has a market capitalization of $14.51 billion, a PE ratio of -10.90 and a beta of 1.03. Snap has a 1 year low of $8.28 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 1.55, a quick ratio of 3.76 and a current ratio of 3.76.

Insider Activity

In other news, SVP Eric Young sold 115,915 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total value of $1,844,207.65. Following the completion of the transaction, the senior vice president now owns 3,292,657 shares of the company’s stock, valued at $52,386,172.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Eric Young sold 115,915 shares of Snap stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total value of $1,844,207.65. Following the completion of the transaction, the senior vice president now owns 3,292,657 shares in the company, valued at $52,386,172.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 26,682 shares of Snap stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $15.72, for a total transaction of $419,441.04. Following the completion of the transaction, the chief financial officer now owns 2,508,007 shares of the company’s stock, valued at approximately $39,425,870.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 225,078 shares of company stock valued at $3,518,129. 22.68% of the stock is currently owned by company insiders.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNAP. Sowell Financial Services LLC increased its stake in Snap by 3.3% in the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock valued at $392,000 after purchasing an additional 729 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Snap by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after acquiring an additional 891 shares during the period. GraniteShares Advisors LLC grew its stake in shares of Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares during the last quarter. Charles Schwab Investment Advisory Inc. grew its stake in shares of Snap by 2.7% in the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock valued at $411,000 after purchasing an additional 956 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its stake in shares of Snap by 3.3% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock valued at $533,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.