Snap (NYSE:SNAP) Raised to Hold at B. Riley

B. Riley upgraded shares of Snap (NYSE:SNAP) to a hold rating in a report published on Thursday, Zacks.com reports.

Other analysts also recently issued research reports about the company. Wolfe Research assumed coverage on Snap in a research note on Tuesday, July 16th. They set a peer perform rating for the company. Deutsche Bank Aktiengesellschaft restated a buy rating and issued a $14.00 price objective on shares of Snap in a research note on Wednesday. Argus raised shares of Snap to a hold rating in a report on Thursday, August 8th. JMP Securities restated a market perform rating on shares of Snap in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their target price on shares of Snap from $16.00 to $12.00 and set a neutral rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $13.76.

Snap Stock Performance

SNAP stock opened at $10.05 on Thursday. The firm has a 50 day moving average of $10.58 and a two-hundred day moving average of $12.82. Snap has a 12 month low of $8.28 and a 12 month high of $17.90. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of -12.41 and a beta of 1.00. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. As a group, equities analysts anticipate that Snap will post -0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 59,053 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $548,602.37. Following the transaction, the general counsel now owns 1,258,278 shares of the company’s stock, valued at $11,689,402.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Snap news, General Counsel Michael J. O’sullivan sold 59,053 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $548,602.37. Following the sale, the general counsel now directly owns 1,258,278 shares in the company, valued at $11,689,402.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.56, for a total transaction of $298,080.00. Following the completion of the transaction, the general counsel now directly owns 481,908 shares of the company’s stock, valued at approximately $7,980,396.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,511,540 shares of company stock valued at $13,569,906. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Large investors have recently made changes to their positions in the stock. Gryphon Financial Partners LLC bought a new position in shares of Snap during the fourth quarter worth about $204,000. Dimensional Fund Advisors LP grew its stake in shares of Snap by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,184,684 shares of the company’s stock worth $36,992,000 after acquiring an additional 351,837 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Snap during the 4th quarter worth approximately $396,000. TCW Group Inc. acquired a new stake in shares of Snap in the fourth quarter valued at approximately $275,000. Finally, HCR Wealth Advisors lifted its position in shares of Snap by 11.7% in the fourth quarter. HCR Wealth Advisors now owns 25,880 shares of the company’s stock worth $438,000 after purchasing an additional 2,718 shares in the last quarter. Institutional investors 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.