Snap (NYSE:SNAP) Shares Down 4.3%

Snap Inc. (NYSE:SNAP)’s stock price fell 4.3% on Monday . The stock traded as low as $9.05 and last traded at $9.11. 3,053,640 shares changed hands during trading, a decline of 89% from the average session volume of 27,209,064 shares. The stock had previously closed at $9.52.

Analysts Set New Price Targets

SNAP has been the subject of a number of research reports. HSBC lowered Snap from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. The Goldman Sachs Group dropped their target price on Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Argus upgraded Snap to a “hold” rating in a report on Thursday, August 8th. Susquehanna dropped their price objective on Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.87.

Snap Price Performance

The stock has a market cap of $15.68 billion, a P/E ratio of -11.25 and a beta of 1.00. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The company’s fifty day simple moving average is $11.25 and its 200-day simple moving average is $12.88.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. As a group, sell-side analysts forecast that Snap Inc. will post -0.48 EPS for the current year.

Insider Transactions at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the transaction, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Snap news, CAO Rebecca Morrow sold 8,923 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.10, for a total value of $81,199.30. Following the completion of the transaction, the chief accounting officer now directly owns 472,405 shares of the company’s stock, valued at $4,298,885.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares in the company, valued at $508,832,634.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,352,420 shares of company stock valued at $12,091,682. Corporate insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. NBC Securities Inc. grew its holdings in Snap by 2,580.4% during 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. Hollencrest Capital Management acquired a new stake in shares of Snap in the 2nd quarter valued at about $33,000. Blue Trust Inc. lifted its stake in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after acquiring an additional 1,682 shares in the last quarter. Rothschild Investment LLC acquired a new position in Snap during the second quarter worth $40,000. Finally, J.Safra Asset Management Corp grew its position 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 purchasing an additional 2,330 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.