Snap Sees Unusually Large Options Volume (NYSE:SNAP)

Snap Inc. (NYSE:SNAPGet Free Report) saw unusually large options trading activity on Thursday. Traders acquired 229,512 call options on the stock. This represents an increase of 81% compared to the average volume of 126,628 call options.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. The Goldman Sachs Group lowered their price objective on shares of Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a research report on Thursday. Jefferies Financial Group raised shares of Snap from a “hold” rating to a “buy” rating and raised their target price for the company from $12.00 to $16.00 in a research report on Thursday, November 30th. Rosenblatt Securities raised their target price on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, China Renaissance raised shares of Snap from a “sell” rating to a “hold” rating and set a $9.00 target price for the company in a research report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.70.

Check Out Our Latest Stock Analysis on Snap

Snap Price Performance

SNAP stock opened at $11.11 on Friday. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.50. Snap has a 12 month low of $7.86 and a 12 month high of $17.90. The firm has a market cap of $18.28 billion, a P/E ratio of -13.38 and a beta of 1.28. The company’s 50-day moving average price is $16.08 and its two-hundred day moving average price is $12.21.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the sale, the general counsel now directly owns 461,005 shares in the company, valued at $7,449,840.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Rebecca Morrow sold 1,792 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $17.13, for a total transaction of $30,696.96. Following the completion of the sale, the chief accounting officer now owns 307,026 shares of the company’s stock, valued at $5,259,355.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the sale, the general counsel now directly owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,589 shares of company stock worth $3,796,543. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jump Financial LLC grew its holdings in shares of Snap by 565.4% during the 3rd quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock valued at $2,343,000 after purchasing an additional 223,432 shares during the last quarter. Illinois Municipal Retirement Fund bought a new stake in Snap during the 3rd quarter worth approximately $423,000. NVP Associates LLC bought a new stake in Snap during the 2nd quarter worth approximately $41,000. Vontobel Holding Ltd. grew its holdings in Snap by 4.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,061,231 shares of the company’s stock worth $9,456,000 after acquiring an additional 47,303 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Snap by 6.1% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,301,300 shares of the company’s stock worth $38,325,000 after acquiring an additional 245,555 shares during the last quarter. 44.37% of the stock is owned by institutional investors.

Snap Company Profile

(Get Free Report)

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.

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