Snap (NYSE:SNAP) Given Overweight Rating at Barclays

Barclays reiterated their overweight rating on shares of Snap (NYSE:SNAP) in a research note published on Wednesday morning, Marketbeat reports.

SNAP has been the subject of several other reports. UBS Group upped their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Canaccord Genuity Group upped their price target on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Stifel Nicolaus dropped their price objective on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. JMP Securities restated a “market outperform” rating and set a $16.00 target price on shares of Snap in a research note on Monday, January 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $16.00 price target (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Snap currently has a consensus rating of “Hold” and an average target price of $36.87.

Snap Trading Down 8.1 %

Shares of NYSE:SNAP opened at $10.67 on Wednesday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $17.89 billion, a PE ratio of -18.39 and a beta of 0.99. Snap has a 1 year low of $8.29 and a 1 year high of $17.50. The firm has a fifty day moving average price of $11.51 and a 200 day moving average price of $10.89.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. Analysts expect that Snap will post -0.39 EPS for the current fiscal year.

Insider Activity at Snap

In related news, SVP Eric Young sold 112,020 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. The trade was a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Derek Andersen sold 94,164 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the completion of the transaction, the chief financial officer now directly owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. The trade was a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 445,184 shares of company stock valued at $4,968,189 over the last quarter.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of Snap by 5.2% during the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after purchasing an additional 575,324 shares during the period. TB Alternative Assets Ltd. boosted its holdings in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after buying an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after buying an additional 2,386,519 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Snap by 49.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after acquiring an additional 1,297,348 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Snap by 0.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company’s stock valued at $34,950,000 after acquiring an additional 15,294 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.