Snap (NYSE:SNAP) Receives Neutral Rating from Piper Sandler

Piper Sandler restated their neutral rating on shares of Snap (NYSE:SNAP) in a research report report published on Friday, Benzinga reports. The firm currently has a $12.00 price target on the stock, down from their prior price target of $15.00.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Snap from $13.00 to $11.00 and set an underweight rating on the stock in a research report on Friday. Roth Mkm restated a neutral rating and issued a $14.00 price objective on shares of Snap in a report on Tuesday, April 23rd. Raymond James reaffirmed an outperform rating and set a $16.00 target price (up previously from $15.00) on shares of Snap in a report on Friday, April 26th. HSBC raised Snap from a reduce rating to a buy rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada lifted their price objective on Snap from $13.00 to $16.00 and gave the stock a sector perform rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $14.23.

Snap Trading Down 1.1 %

NYSE:SNAP traded down $0.10 during trading hours on Friday, hitting $8.61. 32,436,725 shares of the stock were exchanged, compared to its average volume of 28,190,697. The company has a market capitalization of $14.13 billion, a P/E ratio of -10.72 and a beta of 1.03. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. The company’s 50 day moving average is $15.21 and its two-hundred day moving average is $13.83. Snap has a twelve month low of $8.28 and a twelve month high of $17.90.

Insider Activity at Snap

In other news, CFO Derek Andersen sold 26,682 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $15.72, for a total transaction of $419,441.04. Following the completion of the transaction, the chief financial officer now directly owns 2,508,007 shares of the company’s stock, valued at approximately $39,425,870.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Snap news, CFO Derek Andersen sold 26,682 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $15.72, for a total transaction of $419,441.04. Following the sale, the chief financial officer now directly owns 2,508,007 shares of the company’s stock, valued at approximately $39,425,870.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total transaction of $239,040.00. Following the transaction, the general counsel now owns 463,908 shares of the company’s stock, valued at $6,160,698.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,078 shares of company stock valued at $3,518,129. 22.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Snap

Several large investors have recently made changes to their positions in SNAP. NBC Securities Inc. grew its position in shares of Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after acquiring an additional 1,445 shares during the period. Blue Trust Inc. increased its position in Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after buying an additional 1,682 shares during the last quarter. Rothschild Investment LLC bought a new stake in Snap in the second quarter valued at approximately $40,000. J.Safra Asset Management Corp raised its stake in 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 during the period. Finally, Allworth Financial LP boosted its stake in shares of Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after acquiring an additional 1,708 shares during the period. Institutional investors and hedge funds 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.