Snap (NYSE:SNAP) Given New $12.00 Price Target at The Goldman Sachs Group

Snap (NYSE:SNAP) had its price objective lowered by The Goldman Sachs Group from $16.00 to $12.00 in a report published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also issued reports on SNAP. Susquehanna reduced their price target on shares of Snap from $15.00 to $12.00 and set a neutral rating for the company in a research report on Friday. TD Cowen increased their price objective on Snap from $11.00 to $14.00 and gave the stock a hold rating in a report on Friday, April 26th. Barclays dropped their price objective on Snap from $17.00 to $16.00 and set an overweight rating on the stock in a report on Friday. Stifel Nicolaus increased their price objective on Snap from $12.00 to $13.00 and gave the stock a hold rating in a report on Friday, April 26th. Finally, Roth Mkm dropped their price objective on Snap from $15.00 to $14.00 and set a neutral rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Snap currently has a consensus rating of Hold and an average target price of $14.23.

Snap Stock Down 2.0 %

Shares of NYSE SNAP traded down $0.17 during mid-day trading on Friday, reaching $8.54. The company had a trading volume of 30,223,744 shares, compared to its average volume of 28,183,365. The stock has a fifty day moving average of $15.21 and a two-hundred day moving average of $13.83. The company has a debt-to-equity ratio of 1.55, a quick ratio of 3.76 and a current ratio of 3.76. The company has a market capitalization of $14.01 billion, a price-to-earnings ratio of -10.72 and a beta of 1.03. Snap has a 12-month low of $8.28 and a 12-month high of $17.90.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total transaction of $239,040.00. Following the completion of the transaction, the general counsel now directly owns 463,908 shares of the company’s stock, valued at $6,160,698.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total transaction of $239,040.00. Following the completion of the transaction, the general counsel now directly owns 463,908 shares of the company’s stock, valued at $6,160,698.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joanna Coles sold 3,950 shares of Snap stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $15.17, for a total value of $59,921.50. Following the transaction, the director now directly owns 46,492 shares of the company’s stock, valued at $705,283.64. The disclosure for this sale can be found here. Insiders sold a total of 225,078 shares of company stock valued at $3,518,129 over the last ninety days. 22.68% of the stock is owned by company insiders.

Institutional Trading of Snap

Hedge funds and other institutional investors have recently made changes to their positions in the business. NBC Securities Inc. increased its stake in shares of Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after buying an additional 1,445 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Snap in the second quarter valued at $40,000. Allworth Financial LP increased its stake in shares of Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after buying an additional 1,708 shares in the last quarter. Finally, J.Safra Asset Management Corp increased its stake in shares of Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after buying an additional 2,330 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.