What they are: A new way for advertisers to use the Snapchat camera to bring characters and products to life, mimic how they appear in the real world, and drive interaction between users and a brand's IP. Coatue Management LLC owned 1.86% of Snap worth $389,139,000 at the end of the most recent quarter. US Bancorp DE bought a new position in Snap in the first quarter valued at about $101,000. Bank of New York Mellon Corp bought a new position in Snap in the first quarter worth about $525,000. BNP Paribas Arbitrage SA bought a new position in Snap in the 1st quarter worth about $1,026,000. First Trust Advisors LP bought a new position in Snap in the first quarter valued at about $10,130,000. The shares were sold at an average price of $12.50, for a total value of $2,438,750.00. Following the completion of the transaction, the chief financial officer now owns 1,882,280 shares in the company, valued at approximately $23,528,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Institutional investors own 16.40% of the company's stock. The disclosure for this sale can be found here. Insiders sold a total of 1,733,598 shares of company stock valued at $23,764,362 in the last three months.
A number of brokerages have weighed in on SNAP. Drexel Hamilton reiterated a "buy" rating and set a $30.00 price objective on shares of Snap in a research note on Tuesday, September 5th. They set an "underperform" rating and a $28.37 price target for the company. Instinet reaffirmed a sell rating on shares of Snap in a research report on Friday, June 2nd. Needham & Company LLC assumed coverage on Snap in a research note on Monday, March 6th.
Several equities analysts have recently issued reports on SNAP shares. The company now has a consensus rating of "Hold" and an average price target of $18.21.
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Snap (SNAP) traded up 2.34% during mid-day trading on Monday, reaching $14.45. Snap Inc has a 12 month low of $18.90 and a 12 month high of $29.44. The stock has a 50-day moving average of $15.03 and a 200 day moving average of $15.03. The firm's market cap is $17.30 billion. Snap also was the target of unusually large options trading on Monday. Traders purchased 32,321 put options on the company. This represents an increase of 153% compared to the average daily volume of 12,759 put options.
Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The business had revenue of $181.70 million for the quarter, compared to analysts' expectations of $186.49 million. The business's revenue for the quarter was up 153.1% compared to the same quarter past year. Analysts expect that Snap Inc. will post ($0.64) EPS for the current year.