Snap (NYSE:SNAP) PT Lowered to $13.00

Snap (NYSE:SNAP) had its price objective decreased by UBS Group from $14.00 to $13.00 in a research note published on Tuesday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on SNAP. Royal Bank of Canada decreased their price objective on Snap from $17.00 to $13.00 and set a sector perform rating for the company in a report on Wednesday, February 7th. Rosenblatt Securities raised their price target on shares of Snap from $11.00 to $12.00 and gave the stock a neutral rating in a research note on Wednesday, February 7th. Roth Mkm boosted their price objective on shares of Snap from $10.00 to $14.00 and gave the stock a neutral rating in a research report on Friday, January 26th. Morgan Stanley decreased their target price on shares of Snap from $13.00 to $11.00 and set an underweight rating for the company in a research report on Wednesday, February 7th. Finally, Piper Sandler boosted their price target on shares of Snap from $12.00 to $17.00 and gave the stock a neutral rating in a research report on Wednesday, January 17th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $13.86.

Snap Stock Down 4.0 %

Shares of Snap stock opened at $11.17 on Tuesday. The company has a market capitalization of $18.44 billion, a P/E ratio of -13.46 and a beta of 1.13. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The business has a 50-day moving average of $11.21 and a two-hundred day moving average of $12.72. Snap has a 1 year low of $7.86 and a 1 year high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. As a group, equities analysts predict that Snap will post -0.58 EPS for the current year.

Insider Activity at Snap

In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the transaction, the general counsel now owns 461,005 shares in the company, valued at $7,449,840.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now directly owns 474,812 shares in the company, valued at $5,474,582.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the sale, the general counsel now directly owns 461,005 shares in the company, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 470,482 shares of company stock worth $5,284,091. Insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Institutional investors have recently modified their holdings of the stock. SRS Investment Management LLC raised its holdings in shares of Snap by 23.6% during the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after buying an additional 12,452,415 shares in the last quarter. Wellington Management Group LLP grew its position in Snap by 95.8% in the first quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock valued at $641,028,000 after acquiring an additional 8,712,380 shares during the last quarter. Carmignac Gestion acquired a new position in Snap during the fourth quarter worth about $110,103,000. Contrarius Investment Management Ltd bought a new position in shares of Snap in the fourth quarter worth about $80,644,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Snap by 28.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,959,640 shares of the company’s stock worth $320,988,000 after acquiring an additional 4,243,620 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.