Stock Traders Buy Large Volume of Snap Call Options (NYSE:SNAP)

Snap Inc. (NYSE:SNAP - Get Free Report) saw unusually large options trading activity on Friday. Stock investors bought 134,605 call options on the company. This represents an increase of approximately 60% compared to the typical daily volume of 84,074 call options.

Insider Buying and Selling

In other Snap news, insider Ajit Mohan sold 27,608 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $8.04, for a total value of $221,968.32. Following the sale, the insider owned 2,526,855 shares of the company's stock, valued at $20,315,914.20. This trade represents a 1.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Young sold 117,592 shares of the firm's stock in a transaction dated 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 completion of the sale, the senior vice president directly owned 3,348,290 shares in the company, valued at $28,761,811.10. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,615,601 shares of company stock worth $13,325,751 over the last 90 days.

Institutional Trading of Snap

A number of large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Snap by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock worth $71,095,000 after purchasing an additional 389,812 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Snap by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company's stock worth $16,565,000 after buying an additional 29,526 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of Snap in the 1st quarter worth about $122,000. NBC Securities Inc. raised its position in shares of Snap by 154,650.0% during the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock valued at $26,000 after buying an additional 3,093 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings 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 acquiring an additional 3,710 shares during the last quarter. Institutional investors own 47.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Rosenblatt Securities decreased their price objective on shares of Snap from $12.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Piper Sandler decreased their target price on shares of Snap from $13.00 to $10.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Truist Financial dropped their target price on shares of Snap from $14.00 to $11.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus reduced their price target on shares of Snap from $11.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Snap in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $35.62.

Snap Price Performance

Shares of SNAP stock traded down $0.02 during mid-day trading on Monday, hitting $8.70. The company had a trading volume of 32,322,427 shares, compared to its average volume of 33,857,617. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.30 and a quick ratio of 4.30. The stock's 50 day moving average price is $8.36 and its 200-day moving average price is $9.52. Snap has a 52-week low of $7.08 and a 52-week high of $17.33. The company has a market capitalization of $14.54 billion, a P/E ratio of -28.06 and a beta of 0.59.

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

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.