Snap (NYSE:SNAP) Shares Gap Up to $11.16

Snap Inc. (NYSE:SNAP)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $11.16, but opened at $11.53. Snap shares last traded at $11.05, with a volume of 9,458,310 shares.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a report on Thursday, February 8th. Wells Fargo & Company decreased their price objective on shares of Snap from $22.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, February 7th. UBS Group decreased their price objective 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 raised their price objective on shares of Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Finally, Morgan Stanley decreased their price objective on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.86.

Snap Stock Up 2.3 %

The firm has a market cap of $18.82 billion, a P/E ratio of -13.73 and a beta of 1.13. The business’s fifty day moving average price is $11.20 and its two-hundred day moving average price is $12.80. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.39 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. As a group, equities research analysts anticipate that Snap Inc. will post -0.58 EPS for the current year.

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the transaction, the general counsel now owns 474,812 shares in the company, valued at approximately $5,474,582.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the transaction, the general counsel now owns 474,812 shares in the company, valued at approximately $5,474,582.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Evan Spiegel sold 150,000 shares of Snap stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the completion of the transaction, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 470,482 shares of company stock worth $5,284,091.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SNAP. NBC Securities Inc. raised its holdings in Snap by 2,580.4% in 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 during the period. Newbridge Financial Services Group Inc. grew its position in Snap by 75.0% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares during the last quarter. Allworth Financial LP grew its position in Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Snap in the 4th quarter worth $51,000. Finally, Rakuten Securities Inc. acquired a new stake in Snap in the 4th quarter worth $73,000. Institutional investors own 47.52% of the company’s stock.

Snap Company Profile

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.