Snap (NYSE:SNAP) Trading Up 3.2%

Snap Inc. (NYSE:SNAP - Get Free Report) shares traded up 3.2% on Monday . The stock traded as high as $16.62 and last traded at $16.57. 2,280,710 shares were traded during mid-day trading, a decline of 93% from the average session volume of 31,598,398 shares. The stock had previously closed at $16.05.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Roth Mkm reiterated a "neutral" rating and issued a $14.00 target price on shares of Snap in a research note on Tuesday, April 23rd. TD Cowen boosted their price objective on shares of Snap from $11.00 to $14.00 and gave the company a "hold" rating in a research note on Friday, April 26th. Royal Bank of Canada boosted their price objective on shares of Snap from $13.00 to $16.00 and gave the company a "sector perform" rating in a research note on Friday, April 26th. Truist Financial boosted their price objective on shares of Snap from $12.00 to $16.00 and gave the company a "hold" rating in a research note on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Snap from a "hold" rating to a "buy" rating and boosted their price objective for the company from $10.00 to $19.00 in a research note on Friday, January 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $14.79.

Snap Stock Up 2.3 %

The firm has a market cap of $26.95 billion, a PE ratio of -20.28 and a beta of 1.02. 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's 50-day simple moving average is $12.83 and its two-hundred day simple moving average is $13.62.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. On average, analysts predict that Snap Inc. will post -0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snap news, CAO Rebecca Morrow sold 2,442 shares of the company's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the transaction, the chief accounting officer now directly owns 493,084 shares in the company, valued at approximately $5,423,924. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Rebecca Morrow sold 2,442 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the transaction, the chief accounting officer now directly owns 493,084 shares in the company, valued at approximately $5,423,924. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 96,953 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the completion of the transaction, the chief financial officer now owns 2,534,689 shares of the company's stock, valued at $27,856,232.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,509,829 shares of company stock worth $21,263,829.

Institutional Trading of Snap

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in Snap during the 1st quarter valued at about $236,000. Rokos Capital Management LLP purchased a new stake in shares of Snap during the 1st quarter valued at about $4,797,000. California State Teachers Retirement System boosted its holdings in shares of Snap by 7.3% during the 1st quarter. California State Teachers Retirement System now owns 1,534,341 shares of the company's stock valued at $17,614,000 after acquiring an additional 103,755 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Snap by 14.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,671,193 shares of the company's stock valued at $19,185,000 after acquiring an additional 208,046 shares during the last quarter. Finally, Kodai Capital Management LP boosted its holdings in shares of Snap by 125.6% during the 1st quarter. Kodai Capital Management LP now owns 1,261,980 shares of the company's stock valued at $14,488,000 after acquiring an additional 702,698 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

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.