Snap (NYSE:SNAP) Rating Reiterated by Benchmark

Snap (NYSE:SNAP)‘s stock had its “hold” rating restated by investment analysts at Benchmark in a report released on Friday, Benzinga reports.

SNAP has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their target price on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Hsbc Global Res downgraded Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Truist Financial decreased their price target on Snap from $16.00 to $13.00 and set a “hold” rating for the company in a report on Friday, August 2nd. HSBC downgraded Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, B. Riley initiated coverage on Snap in a report on Friday, September 20th. They issued a “neutral” rating and a $11.00 price target for the company. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.08.

Snap Trading Up 1.8 %

Snap stock opened at $10.45 on Friday. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. Snap has a 52 week low of $8.29 and a 52 week high of $17.90. The company has a market capitalization of $17.15 billion, a price-to-earnings ratio of -12.90 and a beta of 1.01. The stock has a 50-day moving average price of $9.94 and a 200 day moving average price of $12.68.

Snap (NYSE:SNAP) last released its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Sell-side analysts anticipate that Snap will post -0.47 EPS for the current year.

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $10.81, for a total transaction of $194,580.00. Following the completion of the transaction, the general counsel now directly owns 489,058 shares in the company, valued at approximately $5,286,716.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $10.81, for a total value of $194,580.00. Following the transaction, the general counsel now directly owns 489,058 shares in the company, valued at approximately $5,286,716.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,508,617 shares of company stock worth $13,422,930. 22.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snap

Several hedge funds have recently bought and sold shares of SNAP. GraniteShares Advisors LLC raised its position in Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. raised its position in Snap by 2.7% in the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock valued at $411,000 after purchasing an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in Snap by 4.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after purchasing an additional 1,048 shares in the last quarter. DMC Group LLC raised its position in Snap by 10.5% in the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company’s stock valued at $259,000 after purchasing an additional 1,477 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.