Snap (NYSE:SNAP) Price Target Cut to $16.00 by Analysts at Barclays

Snap (NYSE:SNAP) had its price objective trimmed by Barclays from $17.00 to $16.00 in a research note published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also recently issued reports on SNAP. Royal Bank of Canada upped their price objective on shares of Snap from $13.00 to $16.00 and gave the stock a sector perform rating in a research report on Friday, April 26th. Stifel Nicolaus upped their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a hold rating in a research report on Friday, April 26th. Roth Mkm reiterated a neutral rating and set a $14.00 price objective on shares of Snap in a research report on Tuesday, April 23rd. HSBC lowered shares of Snap from a buy rating to a hold rating in a report on Friday. Finally, Wells Fargo & Company lifted their price target on shares of Snap from $16.00 to $18.00 and gave the stock an overweight rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $14.23.

Snap Price Performance

SNAP stock traded down $3.45 during trading on Friday, reaching $9.36. 124,970,577 shares of the company were exchanged, compared to its average volume of 21,240,702. The company has a 50-day moving average of $15.21 and a two-hundred day moving average of $13.86. The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of -11.56 and a beta of 1.03. Snap has a twelve month low of $8.28 and a twelve month high of $17.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76.

Insider Activity at Snap

In related news, 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 transaction, the general counsel now owns 481,908 shares in the company, valued at approximately $7,980,396.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 transaction, the general counsel now owns 481,908 shares in the company, valued at approximately $7,980,396.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 8,913 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total transaction of $141,805.83. Following the sale, the chief accounting officer now owns 483,743 shares of the company’s stock, valued at approximately $7,696,351.13. The disclosure for this sale can be found here. Insiders have sold 225,078 shares of company stock worth $3,518,129 in the last quarter. Company insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently bought and sold shares of SNAP. SRS Investment Management LLC increased its stake in Snap by 23.6% during the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after purchasing an additional 12,452,415 shares in the last quarter. Carmignac Gestion bought a new stake in Snap during the 4th quarter valued at $110,103,000. Contrarius Investment Management Ltd bought a new stake in Snap during the 4th quarter valued at $80,644,000. Vanguard Group Inc. increased its stake in Snap by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after purchasing an additional 3,503,230 shares in the last quarter. Finally, TB Alternative Assets Ltd. grew its stake in shares of Snap by 144.5% in the 1st quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock worth $58,488,000 after acquiring an additional 3,011,400 shares in the last quarter. 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.