Piper Sandler restated their neutral rating on shares of Snap (NYSE:SNAP – Free Report) in a report published on Friday morning, Benzinga reports. They currently have a $12.00 target price on the stock, down from their previous target price of $15.00.
Other research analysts have also recently issued research reports about the company. Evercore ISI boosted their price target on Snap from $13.00 to $14.00 and gave the stock an in-line rating in a research note on Friday, April 26th. Roth Mkm restated a neutral rating and issued a $14.00 price target on shares of Snap in a research note on Tuesday, April 23rd. Susquehanna decreased their price target on Snap from $15.00 to $12.00 and set a neutral rating for the company in a research note on Friday. Morgan Stanley upgraded Snap from an underweight rating to an equal weight rating and upped their price objective for the company from $12.00 to $16.00 in a research report on Tuesday, July 23rd. Finally, Barclays upped their price objective on Snap from $15.00 to $17.00 and gave the company an overweight rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $14.23.
Check Out Our Latest Stock Analysis on SNAP
Snap Stock Down 26.9 %
Insider Transactions at Snap
In other news, SVP Eric Young sold 115,915 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $15.91, for a total value of $1,844,207.65. Following the completion of the transaction, the senior vice president now owns 3,292,657 shares of the company’s stock, valued at $52,386,172.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Derek Andersen sold 26,682 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $15.72, for a total transaction of $419,441.04. Following the completion of the transaction, the chief financial officer now directly owns 2,508,007 shares of the company’s stock, valued at $39,425,870.04. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Eric Young sold 115,915 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total value of $1,844,207.65. Following the transaction, the senior vice president now directly owns 3,292,657 shares of the company’s stock, valued at $52,386,172.87. The disclosure for this sale can be found here. Insiders sold a total of 225,078 shares of company stock valued at $3,518,129 over the last 90 days. Company insiders own 22.68% of the company’s stock.
Hedge Funds Weigh In On Snap
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. boosted its stake in Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after buying an additional 1,445 shares during the last quarter. Blue Trust Inc. boosted its stake in Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Snap in the 2nd quarter valued at approximately $40,000. J.Safra Asset Management Corp lifted its stake in shares of Snap by 534.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after purchasing an additional 2,330 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares during the last quarter. 47.52% of the stock is 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.
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