Snap Inc (NYSE:SNAP)’s share price hit a new 52-week low on Monday . The stock traded as low as $9.60 and last traded at $9.58, with a volume of 839233 shares changing hands. The stock had previously closed at $9.86.

Several brokerages recently weighed in on SNAP. Wedbush upgraded shares of Snap from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $11.50 to $12.25 in a report on Tuesday. Zacks Investment Research lowered shares of Snap from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Credit Suisse Group lowered their target price on shares of Snap from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, August 8th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $12.00 target price on shares of Snap in a research note on Wednesday, August 8th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $15.00 target price (down previously from $17.00) on shares of Snap in a research note on Wednesday, August 8th. Eleven equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.86.

The stock has a market capitalization of $12.68 billion, a PE ratio of -4.75 and a beta of -2.84.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.18. Snap had a negative net margin of 155.31% and a negative return on equity of 49.79%. The company had revenue of $262.26 million during the quarter, compared to the consensus estimate of $247.24 million. analysts predict that Snap Inc will post -1.07 EPS for the current year.

In other news, CEO Evan Spiegel sold 1,520,640 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $10.57, for a total transaction of $16,073,164.80. Following the completion of the sale, the chief executive officer now owns 81,400,642 shares of the company’s stock, valued at $860,404,785.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy R. Stone sold 8,919 shares of the stock in a transaction on Monday, July 16th. The stock was sold at an average price of $13.18, for a total transaction of $117,552.42. Following the sale, the chief financial officer now directly owns 1,250,417 shares of the company’s stock, valued at approximately $16,480,496.06. The disclosure for this sale can be found here. Insiders have sold 3,375,218 shares of company stock valued at $38,429,235 in the last three months.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its holdings in Snap by 188.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 10,041 shares of the company’s stock worth $131,000 after purchasing an additional 6,556 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in Snap by 283.0% during the second quarter. North Star Investment Management Corp. now owns 10,150 shares of the company’s stock worth $133,000 after purchasing an additional 7,500 shares during the last quarter. Quantbot Technologies LP acquired a new position in Snap during the first quarter worth $134,000. Greenwood Capital Associates LLC acquired a new position in Snap during the second quarter worth $138,000. Finally, Sunbelt Securities Inc. acquired a new position in Snap during the second quarter worth $138,000. Institutional investors and hedge funds own 22.29% of the company’s stock.

About Snap (NYSE:SNAP)

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows to creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.

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