Snap Inc. (NYSE:SNAP) Receives Average Rating of “Hold” from Brokerages

Shares of Snap Inc. (NYSE:SNAP) have earned an average recommendation of “Hold” from the thirty-two brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, twenty-two have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $36.99.

Several equities research analysts recently commented on SNAP shares. Loop Capital raised their target price on Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of Snap in a research report on Wednesday, October 30th. UBS Group raised their price target on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Guggenheim reiterated a “buy” rating and issued a $12.11 price objective on shares of Snap in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company raised their target price on Snap from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, January 13th.

Insider Buying and Selling

In other news, CFO Derek Andersen sold 94,164 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the transaction, the chief financial officer now owns 2,193,806 shares of the company’s stock, valued at approximately $25,097,140.64. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Eric Young sold 112,020 shares of Snap stock in a transaction dated 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 sale, the senior vice president now owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. This represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 427,184 shares of company stock valued at $4,761,369 in the last quarter. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several large investors have recently bought and sold shares of SNAP. Dimensional Fund Advisors LP boosted its holdings in shares of Snap by 19.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,018,678 shares of the company’s stock valued at $50,145,000 after acquiring an additional 490,906 shares in the last quarter. Blair William & Co. IL bought a new position in Snap during the 2nd quarter valued at $251,000. Point72 DIFC Ltd acquired a new position in shares of Snap during the 2nd quarter valued at $158,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Snap by 60.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 200,583 shares of the company’s stock worth $3,332,000 after buying an additional 75,917 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of Snap by 3.9% in the second quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock valued at $45,835,000 after buying an additional 112,135 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Price Performance

NYSE:SNAP opened at $11.31 on Friday. The business’s 50-day moving average is $11.53 and its two-hundred day moving average is $10.96. Snap has a 12 month low of $8.29 and a 12 month high of $17.50. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

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.