Snap (NYSE:SNAP – Free Report) had its price target reduced by The Goldman Sachs Group from $16.00 to $12.00 in a report published on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.
Several other brokerages have also issued reports on SNAP. Bank of America decreased their price objective on Snap from $16.00 to $13.00 and set a neutral rating for the company in a research report on Friday. Evercore ISI increased their price objective on shares of Snap from $13.00 to $14.00 and gave the stock an in-line rating in a research report on Friday, April 26th. Rosenblatt Securities boosted their price objective on shares of Snap from $12.00 to $14.00 and gave the company a neutral rating in a research report on Friday, April 26th. Barclays reduced their target price on shares of Snap from $17.00 to $16.00 and set an overweight rating for the company in a research note on Friday. Finally, Raymond James reissued an outperform rating and issued a $16.00 price target (up previously from $15.00) on shares of Snap in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $14.23.
Get Our Latest Research Report on SNAP
Snap Trading Down 26.9 %
Insider Buying and Selling
In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the transaction, the general counsel now directly owns 481,908 shares of the company’s stock, valued at $7,980,396.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Eric Young sold 115,915 shares of Snap stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.91, for a total transaction of $1,844,207.65. Following the completion of the sale, the senior vice president now directly owns 3,292,657 shares of the company’s stock, valued at approximately $52,386,172.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the completion of the transaction, the general counsel now directly owns 481,908 shares in the company, valued at $7,980,396.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,078 shares of company stock valued at $3,518,129. 22.68% of the stock is owned by insiders.
Institutional Investors Weigh In On Snap
A number of institutional investors have recently modified their holdings of the business. NBC Securities Inc. increased its position in Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after acquiring an additional 1,445 shares during the period. Blue Trust Inc. increased its holdings in shares of Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Snap in the second quarter valued at approximately $40,000. Allworth Financial LP increased its stake in Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after acquiring an additional 1,708 shares during the period. Finally, J.Safra Asset Management Corp raised its holdings in Snap by 534.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after acquiring an additional 2,330 shares in the last quarter. Institutional investors 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.
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