Snap Sees Unusually High Options Volume (NYSE:SNAP)

Key Points

• Snap Inc. experienced a significant increase in options trading, with 194,656 call options purchased, representing a 59% rise from the average volume.
• Recent analyst ratings show a mixed sentiment towards Snap, with Bank of America lowering its price target from $10.00 to $9.50, while Morgan Stanley raised theirs from $6.50 to $8.50.
• Insiders have sold a total of 1,510,644 shares of Snap stock worth approximately $11.69 million in the last quarter, indicating a notable trend in insider trading activity.

Snap Inc. (NYSE:SNAP - Get Free Report) saw some unusual options trading on Tuesday. Stock traders bought 194,656 call options on the stock. Thisisanincreaseofapproximately59% compared to the typical volume of 122,791 call options.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SNAP shares. Bank of America decreased their price target on shares of Snap from $10.00 to $9.50 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Citizens Jmp reaffirmed a "market perform" rating on shares of Snap in a report on Wednesday, August 6th. Morgan Stanley increased their price objective on Snap from $6.50 to $8.50 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Citigroup cut shares of Snap from an "outperform" rating to a "negative" rating in a research report on Tuesday, July 15th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Snap in a research report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $34.16.

Snap Price Performance

SNAP traded up $0.20 during trading on Tuesday, hitting $7.34. 103,023,141 shares of the stock traded hands, compared to its average volume of 38,109,570. The business has a 50 day moving average price of $8.53 and a 200 day moving average price of $8.66. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88. Snap has a twelve month low of $6.90 and a twelve month high of $13.28. The company has a market cap of $12.40 billion, a price-to-earnings ratio of -22.94 and a beta of 0.62.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.16). Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The firm 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 business posted ($0.15) EPS. The company'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 forecast that Snap will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snap news, Director Elizabeth Jenkins sold 7,900 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $55,853.00. Following the completion of the sale, the director owned 65,663 shares of the company's stock, valued at $464,237.41. This trade represents a 10.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 10,216 shares of Snap stock in a transaction on Monday, August 18th. The stock was sold at an average price of $7.17, for a total transaction of $73,248.72. Following the transaction, the chief accounting officer directly owned 436,087 shares of the company's stock, valued at approximately $3,126,743.79. This trade represents a 2.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,510,644 shares of company stock worth $11,688,447 in the last quarter.

Hedge Funds Weigh In On Snap

A number of institutional investors have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC acquired a new stake in Snap in the first quarter valued at approximately $122,000. NBC Securities Inc. lifted its stake in shares of Snap by 154,650.0% in the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock valued at $26,000 after acquiring an additional 3,093 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Snap by 2.4% during the 4th quarter. Ameriprise Financial Inc. now owns 157,118 shares of the company's stock valued at $1,692,000 after acquiring an additional 3,710 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Snap by 12.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 26,841 shares of the company's stock worth $234,000 after acquiring an additional 2,918 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Snap by 19.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company's stock worth $184,000 after purchasing an additional 2,792 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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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