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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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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