Snap Inc. (NYSE:SNAP) Short Interest Update

Key Points

• Snap Inc. experienced a significant decline in short interest, falling by 26.6% to 105,560,000 shares as of September 15th, indicating a reduction in investor bearishness.
• Insider Ajit Mohan sold 27,595 shares at an average price of $7.56, while General Counsel Michael J. O'sullivan sold 24,000 shares at $7.86, reflecting insider sentiment towards the stock.
• Institutional investors now own 47.52% of Snap's stock, with several hedge funds significantly increasing their holdings in the past quarters.

Snap Inc. (NYSE:SNAP - Get Free Report) saw a large decline in short interest in September. As of September 15th, there was short interest totaling 105,560,000 shares, a decline of 26.6% from the August 31st total of 143,870,000 shares. Approximately 9.7% of the company's stock are sold short. Based on an average daily volume of 69,270,000 shares, the short-interest ratio is presently 1.5 days. Based on an average daily volume of 69,270,000 shares, the short-interest ratio is presently 1.5 days. Approximately 9.7% of the company's stock are sold short.

Insider Activity at Snap

In other news, insider Ajit Mohan sold 27,595 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $7.56, for a total transaction of $208,618.20. Following the sale, the insider owned 5,464,411 shares in the company, valued at $41,310,947.16. This represents a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Michael J. O'sullivan sold 24,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $7.86, for a total transaction of $188,640.00. Following the sale, the general counsel directly owned 514,454 shares of the company's stock, valued at $4,043,608.44. This trade represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,510,532 shares of company stock worth $11,629,869 in the last ninety days.

Institutional Investors Weigh In On Snap

A number of hedge funds have recently modified their holdings of the business. NBC Securities Inc. raised its holdings in Snap by 154,650.0% in the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after purchasing an additional 3,093 shares during the period. Signaturefd LLC grew its holdings in Snap by 169.9% during the second quarter. Signaturefd LLC now owns 2,942 shares of the company's stock valued at $26,000 after purchasing an additional 1,852 shares during the period. Rakuten Securities Inc. increased its position in Snap by 155.4% in the first quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock worth $30,000 after buying an additional 2,123 shares in the last quarter. Quarry LP bought a new position in shares of Snap in the first quarter worth about $34,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Snap during the 1st quarter valued at about $35,000. Institutional investors own 47.52% of the company's stock.

Snap Price Performance

NYSE SNAP opened at $8.51 on Tuesday. The company has a 50-day moving average price of $7.78 and a 200-day moving average price of $8.33. Snap has a 52 week low of $6.90 and a 52 week high of $13.28. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $14.38 billion, a P/E ratio of -26.59 and a beta of 0.71.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.16). Snap had a negative net margin of 9.69% and a negative return on equity of 23.32%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm posted ($0.15) earnings per share. The firm's revenue was up 8.7% compared to the same quarter last year. Snap has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that Snap will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. Morgan Stanley lifted their target price on Snap from $6.50 to $8.50 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Cantor Fitzgerald reiterated a "neutral" rating and issued a $7.00 price objective on shares of Snap in a report on Wednesday, August 6th. Mizuho began coverage on shares of Snap in a research note on Monday, September 29th. They set a "neutral" rating and a $9.00 target price on the stock. TD Cowen raised their price target on shares of Snap from $9.00 to $10.00 and gave the company a "hold" rating in a report on Tuesday, July 15th. Finally, Sanford C. Bernstein boosted their price objective on shares of Snap from $9.00 to $10.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Snap currently has a consensus rating of "Hold" and a consensus price target of $34.77.

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.

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