Snap (SNAP) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Snap (NYSE:SNAP) from a sell rating to a hold rating in a research note published on Saturday.

A number of other brokerages also recently commented on SNAP. Summit Redstone upgraded shares of Snap from a sell rating to a hold rating and set a $16.00 price objective for the company in a research report on Wednesday, February 7th. Oppenheimer upped their price objective on shares of Snap from $14.00 to $19.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Vetr downgraded shares of Snap from a strong-buy rating to a buy rating and set a $22.73 price objective for the company. in a research report on Thursday, February 8th. Aegis restated a hold rating and set a $18.00 price objective (up previously from $13.00) on shares of Snap in a research report on Thursday, February 8th. Finally, Pivotal Research restated a sell rating and set a $10.00 price objective on shares of Snap in a research report on Thursday, February 8th. Fourteen analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $18.25.

Snap (SNAP) opened at $20.42 on Friday. Snap has a 12-month low of $11.28 and a 12-month high of $29.44.

In other Snap news, CFO Andrew Vollero sold 22,881 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $13.52, for a total transaction of $309,351.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Imran Khan sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $20.04, for a total transaction of $5,010,000.00. Following the sale, the insider now directly owns 9,755,173 shares in the company, valued at $195,493,666.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,459,734 shares of company stock worth $77,236,360.

Several institutional investors have recently added to or reduced their stakes in SNAP. Bank of New York Mellon Corp boosted its stake in shares of Snap by 57.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,643 shares of the company’s stock worth $651,000 after purchasing an additional 13,336 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Snap during the 2nd quarter worth about $278,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Snap during the 2nd quarter worth about $196,000. Northern Trust Corp boosted its stake in shares of Snap by 1,633.4% during the 2nd quarter. Northern Trust Corp now owns 240,695 shares of the company’s stock worth $4,277,000 after purchasing an additional 226,809 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Snap by 23.7% during the 2nd quarter. Vanguard Group Inc. now owns 8,353,729 shares of the company’s stock worth $148,446,000 after purchasing an additional 1,601,170 shares during the last quarter. 18.98% of the stock is currently owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Snap (NYSE:SNAP)

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