Snap Sees Unusually Large Options Volume (NYSE:SNAP)

Snap Inc. (NYSE:SNAPGet Free Report) saw some unusual options trading activity on Friday. Stock investors purchased 134,605 call options on the company. This is an increase of 60% compared to the average volume of 84,074 call options.

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 24,000 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $8.60, for a total value of $206,400.00. Following the sale, the general counsel now directly owns 507,660 shares of the company’s stock, valued at approximately $4,365,876. This represents a 4.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $8.03, for a total transaction of $8,030,000.00. Following the completion of the transaction, the chief technology officer now directly owns 54,517,308 shares in the company, valued at approximately $437,773,983.24. This represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,639,601 shares of company stock valued at $13,532,151. 22.68% of the stock is owned by company insiders.

Institutional Trading of Snap

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Snap by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock worth $71,095,000 after purchasing an additional 389,812 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Snap by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company’s stock worth $16,565,000 after purchasing an additional 29,526 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of Snap in the first quarter worth $122,000. NBC Securities Inc. lifted its holdings in Snap by 154,650.0% in the first quarter. NBC Securities Inc. now owns 3,095 shares of the company’s stock valued at $26,000 after buying an additional 3,093 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Snap by 2.4% in the fourth quarter. Ameriprise Financial Inc. now owns 157,118 shares of the company’s stock valued at $1,692,000 after buying an additional 3,710 shares during the period. Institutional investors own 47.52% of the company’s stock.

Snap Stock Performance

NYSE SNAP opened at $8.73 on Friday. The firm’s fifty day moving average price is $8.36 and its two-hundred day moving average price is $9.53. The stock has a market cap of $14.59 billion, a PE ratio of -28.17 and a beta of 0.59. Snap has a fifty-two week low of $7.08 and a fifty-two week high of $17.33. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.30 and a current ratio of 4.30.

Snap (NYSE:SNAPGet Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts expect that Snap will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on SNAP shares. Stifel Nicolaus lowered their price target on shares of Snap from $11.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $12.00 price target on shares of Snap in a report on Wednesday, April 30th. Citigroup lowered their price target on shares of Snap from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Loop Capital lowered their target price on shares of Snap from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Snap from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Snap has a consensus rating of “Hold” and an average target price of $35.62.

Read Our Latest Research Report on SNAP

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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