Snap (NYSE:SNAP) PT Lowered to $16.00

Snap (NYSE:SNAP) had its price objective cut by Barclays from $17.00 to $16.00 in a report released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently commented on SNAP. UBS Group cut their target price on shares of Snap from $14.00 to $13.00 and set a neutral rating for the company in a research note on Tuesday, April 16th. Susquehanna cut their target price on shares of Snap from $15.00 to $12.00 and set a neutral rating for the company in a research note on Friday. Wolfe Research initiated coverage on shares of Snap in a report on Tuesday, July 16th. They issued a peer perform rating on the stock. Benchmark reissued a hold rating on shares of Snap in a report on Tuesday, July 30th. Finally, Rosenblatt Securities boosted their price target on shares of Snap from $12.00 to $14.00 and gave the company a neutral rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $14.23.

Snap Stock Performance

NYSE:SNAP traded down $0.17 during trading hours on Friday, hitting $8.54. 30,223,744 shares of the company traded hands, compared to its average volume of 28,183,365. The stock has a market capitalization of $14.01 billion, a price-to-earnings ratio of -10.72 and a beta of 1.03. Snap has a twelve month low of $8.28 and a twelve month high of $17.90. The firm has a 50-day moving average of $15.21 and a 200 day moving average of $13.83. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 1.55.

Insider Buying and Selling at Snap

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the sale, the general counsel now directly owns 481,908 shares in the company, valued at approximately $7,980,396.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the sale, the general counsel now directly owns 481,908 shares in the company, valued at approximately $7,980,396.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joanna Coles sold 3,950 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $15.17, for a total transaction of $59,921.50. Following the completion of the sale, the director now owns 46,492 shares in the company, valued at $705,283.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,078 shares of company stock worth $3,518,129. Company insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Several hedge funds have recently bought and sold shares of SNAP. NBC Securities Inc. grew its stake in shares of Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after acquiring an additional 1,445 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Snap during the 2nd quarter worth approximately $40,000. Allworth Financial LP grew its stake in shares of Snap by 161.6% during 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. Finally, J.Safra Asset Management Corp grew its stake in shares of Snap by 534.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock worth $46,000 after acquiring an additional 2,330 shares in the last quarter. 47.52% of the stock is currently 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.