Snap (SNAP) Upgraded at Vetr
Snap (NYSE:SNAP) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday. The firm presently has a $15.96 target price on the stock. Vetr‘s price objective would suggest a potential upside of 18.22% from the company’s previous close.
A number of other analysts have also recently issued reports on the company. Morgan Stanley cut Snap from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 9th. Royal Bank of Canada reissued a “buy” rating and set a $20.00 price objective on shares of Snap in a report on Sunday, October 8th. Zacks Investment Research cut Snap from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. BidaskClub cut Snap from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Finally, Pivotal Research reissued a “sell” rating and set a $8.00 price objective (down previously from $9.00) on shares of Snap in a report on Wednesday, November 8th. Eighteen analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.21.
Snap (NYSE:SNAP) opened at $13.50 on Monday. The firm has a market capitalization of $16,260.00 and a price-to-earnings ratio of -4.25. Snap has a 12 month low of $11.28 and a 12 month high of $29.44.
In related news, CEO Evan Spiegel sold 1,652,966 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $12.42, for a total transaction of $20,529,837.72. Following the transaction, the chief executive officer now directly owns 86,657,812 shares of the company’s stock, valued at approximately $1,076,290,025.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Timothy Sehn sold 400,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $14.59, for a total value of $5,836,000.00. Following the transaction, the vice president now directly owns 2,669,279 shares in the company, valued at $38,944,780.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,840,711 shares of company stock worth $50,828,518.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its position in Snap by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 9,869 shares of the company’s stock worth $175,000 after acquiring an additional 757 shares during the last quarter. Private Advisor Group LLC grew its position in Snap by 6.7% during the 2nd quarter. Private Advisor Group LLC now owns 22,293 shares of the company’s stock worth $379,000 after acquiring an additional 1,393 shares during the last quarter. WFG Advisors LP grew its position in Snap by 52.4% during the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after acquiring an additional 2,537 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Snap by 21.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 19,816 shares of the company’s stock worth $352,000 after acquiring an additional 3,447 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Snap by 22.9% during the 3rd quarter. Rhumbline Advisers now owns 22,900 shares of the company’s stock worth $333,000 after acquiring an additional 4,260 shares during the last quarter. Institutional investors and hedge funds own 18.88% of the company’s stock.
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 Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.