Short Interest in Snap Inc. (SNAP) Increases By 4.3%

Snap Inc. (NYSE:SNAP) was the target of a significant increase in short interest in the month of September. As of September 29th, there was short interest totalling 108,331,767 shares, an increase of 4.3% from the September 15th total of 103,910,916 shares. Currently, 22.3% of the shares of the company are sold short. Based on an average trading volume of 20,013,284 shares, the short-interest ratio is currently 5.4 days.

Several research firms have recently weighed in on SNAP. Piper Jaffray Companies reiterated a “neutral” rating and issued a $16.50 target price (down previously from $20.00) on shares of Snap in a research note on Thursday, July 13th. SunTrust Banks, Inc. began coverage on shares of Snap in a research note on Tuesday, August 15th. They issued a “sell” rating and a $10.00 target price for the company. Zacks Investment Research upgraded shares of Snap from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Drexel Hamilton reaffirmed a “buy” rating and set a $30.00 price objective on shares of Snap in a research note on Monday, July 17th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $13.00 price objective (down previously from $19.00) on shares of Snap in a research note on Thursday, August 10th. Nine analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $18.12.

In other news, insider Imran Khan sold 150,000 shares of Snap stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $12.50, for a total value of $1,875,000.00. Following the completion of the transaction, the insider now owns 9,596,464 shares in the company, valued at $119,955,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Vollero sold 37,874 shares of Snap stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $14.64, for a total transaction of $554,475.36. Following the completion of the transaction, the chief financial officer now owns 1,797,644 shares of the company’s stock, valued at approximately $26,317,508.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,133,598 shares of company stock worth $29,704,362.

Several large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of Snap by 8.3% during the second quarter. Pacer Advisors Inc. now owns 9,869 shares of the company’s stock worth $175,000 after purchasing an additional 757 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Snap by 6.7% during the second quarter. Private Advisor Group LLC now owns 22,293 shares of the company’s stock worth $379,000 after purchasing an additional 1,393 shares during the last quarter. NN Investment Partners Holdings N.V. lifted its position in shares of Snap by 6.3% during the second quarter. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company’s stock worth $754,000 after purchasing an additional 2,530 shares during the last quarter. WFG Advisors LP lifted its position in shares of Snap by 52.4% during the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after purchasing an additional 2,537 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Snap by 21.1% during the second quarter. Oppenheimer & Co. Inc. now owns 19,816 shares of the company’s stock worth $352,000 after purchasing an additional 3,447 shares during the last quarter. Institutional investors and hedge funds own 16.40% of the company’s stock.

Snap (SNAP) opened at 16.50 on Friday. Snap has a 12 month low of $16.22 and a 12 month high of $29.44. The stock’s market cap is $19.75 billion.

Snap (NYSE:SNAP) last released its earnings results on Thursday, August 10th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The firm had revenue of $181.70 million during the quarter, compared to analyst estimates of $186.49 million. The firm’s quarterly revenue was up 153.1% compared to

Several research firms have recently weighed in on SNAP. Piper Jaffray Companies reiterated a “neutral” rating and issued a $16.50 target price (down previously from $20.00) on shares of Snap in a research note on Thursday, July 13th. SunTrust Banks, Inc. began coverage on shares of Snap in a research note on Tuesday, August 15th. They issued a “sell” rating and a $10.00 target price for the company. Zacks Investment Research upgraded shares of Snap from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Drexel Hamilton reaffirmed a “buy” rating and set a $30.00 price objective on shares of Snap in a research note on Monday, July 17th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $13.00 price objective (down previously from $19.00) on shares of Snap in a research note on Thursday, August 10th. Nine analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $18.12.

In other news, insider Imran Khan sold 150,000 shares of Snap stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $12.50, for a total value of $1,875,000.00. Following the completion of the transaction, the insider now owns 9,596,464 shares in the company, valued at $119,955,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Vollero sold 37,874 shares of Snap stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $14.64, for a total transaction of $554,475.36. Following the completion of the transaction, the chief financial officer now owns 1,797,644 shares of the company’s stock, valued at approximately $26,317,508.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,133,598 shares of company stock worth $29,704,362.

Several large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of Snap by 8.3% during the second quarter. Pacer Advisors Inc. now owns 9,869 shares of the company’s stock worth $175,000 after purchasing an additional 757 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Snap by 6.7% during the second quarter. Private Advisor Group LLC now owns 22,293 shares of the company’s stock worth $379,000 after purchasing an additional 1,393 shares during the last quarter. NN Investment Partners Holdings N.V. lifted its position in shares of Snap by 6.3% during the second quarter. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company’s stock worth $754,000 after purchasing an additional 2,530 shares during the last quarter. WFG Advisors LP lifted its position in shares of Snap by 52.4% during the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after purchasing an additional 2,537 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Snap by 21.1% during the second quarter. Oppenheimer & Co. Inc. now owns 19,816 shares of the company’s stock worth $352,000 after purchasing an additional 3,447 shares during the last quarter. Institutional investors and hedge funds own 16.40% of the company’s stock.

Snap (SNAP) opened at 16.50 on Friday. Snap has a 12 month low of $16.22 and a 12 month high of $29.44. The stock’s market cap is $19.75 billion.

Snap (NYSE:SNAP) last released its earnings results on Thursday, August 10th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The firm had revenue of $181.70 million during the quarter, compared to analyst estimates of $186.49 million. The firm’s quarterly revenue was up 153.1% compared to the same quarter last year. Analysts expect that Snap will post ($0.64) earnings per share for the current fiscal year.

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About Snap

Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.

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