Many institutional investors adjusted their positions in Snap (SNAP). Steward Partners increased their shares by 2.2%, totaling 41,245 shares valued at $698,000. GraniteShares added 2.5% more shares, reaching 38,154 worth $634,000. Charles Schwab raised its holdings by 2.7% to 35,807 shares worth $411,000. Concurrent Investment Advisors upped their stake by 4.0% to 26,998 shares, valued at $448,000. B. Riley Wealth Advisors boosted their holdings by 6.7% to 19,640 shares valued at $333,000. Overall, institutional investors own 47.52% of Snap’s stock.
Insider Trading
CTO Robert C. Murphy sold 1,000,000 shares on August 6 for $8.69 each, totaling $8.69 million, leaving him with 58,553,813 shares worth about $508.8 million. General Counsel Michael J. O’Sullivan sold 18,000 shares at $13.28 each on July 31 for $239,040, retaining 463,908 shares valued at $6.16 million. In the last three months, insiders sold 1,511,540 Snap shares worth $13.47 million, owning 22.68% of the company.
Stock Performance
As of Friday, SNAP shares opened at $10.74, with a 50-day average of $9.90 and a 200-day average of $12.76. The market cap stands at $17.62 billion, with a P/E ratio of -13.23 and a beta of 1.00. Snap’s 52-week low is $8.29, and the high is $17.90. The company reported a loss of $0.13 per share last quarter, surpassing estimates, with revenue of $1.24 billion, slightly below projections.
Analyst Ratings
Analysts have mixed views on SNAP. JMP Securities rated it “market perform,” while Cantor Fitzgerald gave it a “neutral” rating with an $8 price target. Citigroup and JPMorgan lowered their targets to $11.00, with Citigroup maintaining a “neutral” rating. Overall, analysts rate SNAP as a “Hold” with an average price target of $14.00.
Check Out Our Latest Analysis on Snap
Company Overview
Snap Inc. is a tech company operating Snapchat, a visual messaging app offering features like camera, messaging, map, stories, and spotlight for visual communication through videos and images.
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