Snap Target of Unusually Large Options Trading (NYSE:SNAP)

Snap Inc. (NYSE:SNAP - Get Free Report) saw unusually large options trading on Tuesday. Traders bought 147,085 call options on the company. This is an increase of approximately 51% compared to the typical daily volume of 97,237 call options.

Snap Price Performance

Shares of SNAP traded up $0.03 during mid-day trading on Friday, reaching $9.77. The company had a trading volume of 30,468,525 shares, compared to its average volume of 36,779,240. The company has a market capitalization of $16.32 billion, a P/E ratio of -31.50 and a beta of 0.59. Snap has a twelve month low of $7.08 and a twelve month high of $13.95. The company's 50-day moving average is $8.78 and its 200-day moving average is $9.32. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.30 and a quick ratio of 4.30.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. The firm's revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. On average, equities analysts anticipate that Snap will post -0.3 EPS for the current year.

Insider Buying and Selling

In other news, CAO Rebecca Morrow sold 9,202 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $8.59, for a total transaction of $79,045.18. Following the sale, the chief accounting officer directly owned 448,881 shares of the company's stock, valued at $3,855,887.79. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Young sold 117,592 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $8.59, for a total value of $1,010,115.28. Following the sale, the senior vice president directly owned 3,348,290 shares in the company, valued at $28,761,811.10. This trade represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,667,802 shares of company stock worth $13,799,881. 22.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Wealthcare Advisory Partners LLC acquired a new position in shares of Snap in the 1st quarter valued at $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 purchasing an additional 3,093 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Snap by 2.4% in the 4th quarter. Ameriprise Financial Inc. now owns 157,118 shares of the company's stock valued at $1,692,000 after purchasing an additional 3,710 shares during the period. Sei Investments Co. acquired a new position in shares of Snap in the 4th quarter valued at $158,000. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Snap by 12.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 26,841 shares of the company's stock valued at $234,000 after purchasing an additional 2,918 shares during the period. 47.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNAP. Sanford C. Bernstein boosted their target price on Snap from $9.00 to $10.00 and gave the stock a "market perform" rating in a research report on Tuesday. Royal Bank Of Canada reiterated a "sector perform" rating and set a $12.00 price target on shares of Snap in a report on Wednesday, April 30th. Rosenblatt Securities lowered their price target on Snap from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Piper Sandler lowered their price target on Snap from $13.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Loop Capital lowered their price target on Snap from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $33.95.

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.