Snap (NYSE:SNAP) Stock Price Down 4.2% – What’s Next?

Snap Inc. (NYSE:SNAP) shares traded down 4.2% during mid-day trading on Thursday . The stock traded as low as $11.29 and last traded at $11.34. 10,056,211 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 27,943,342 shares. The stock had previously closed at $11.84.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI raised their price objective on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Stifel Nicolaus decreased their price target on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Loop Capital upped their price objective on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Snap in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus price target of $36.99.

Snap Stock Performance

The stock has a market cap of $19.08 billion, a PE ratio of -19.69 and a beta of 0.98. The firm’s 50-day moving average is $11.58 and its 200 day moving average is $11.40. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the company posted ($0.21) earnings per share. The business’s revenue was up 15.4% on a year-over-year basis. As a group, research analysts anticipate that Snap Inc. will post -0.39 EPS for the current year.

Insider Activity at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the sale, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. This represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 2,812 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the sale, the chief accounting officer now owns 430,252 shares in the company, valued at $4,922,082.88. This represents a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,451,618 shares of company stock worth $17,560,157 over the last 90 days.

Institutional Trading of Snap

Several large investors have recently modified their holdings of SNAP. DekaBank Deutsche Girozentrale lifted its position in shares of Snap by 50.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 282,754 shares of the company’s stock valued at $4,702,000 after acquiring an additional 94,532 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Snap by 19.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,018,678 shares of the company’s stock valued at $50,145,000 after purchasing an additional 490,906 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of Snap during the second quarter worth about $180,000. Virtu Financial LLC raised its position in shares of Snap by 314.6% in the second quarter. Virtu Financial LLC now owns 85,220 shares of the company’s stock valued at $1,416,000 after buying an additional 64,664 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Snap by 25.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 54,159 shares of the company’s stock valued at $900,000 after buying an additional 10,891 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.