Snap Inc. (SNAP) Short Interest Update

Snap Inc. (NYSE:SNAP) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 114,874,543 shares, a decline of 5.2% from the October 13th total of 121,134,857 shares. Approximately 29.3% of the company’s shares are short sold. Based on an average daily trading volume, of 18,493,373 shares, the short-interest ratio is currently 6.2 days.

In other news, CEO Evan Spiegel sold 1,652,966 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $12.42, for a total value of $20,529,837.72. Following the completion of the transaction, the chief executive officer now owns 86,657,812 shares of the company’s stock, valued at $1,076,290,025.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Timothy Sehn sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $15.00, for a total transaction of $2,250,000.00. Following the completion of the transaction, the vice president now directly owns 2,679,168 shares of the company’s stock, valued at approximately $40,187,520. The disclosure for this sale can be found here. In the last three months, insiders sold 3,390,840 shares of company stock valued at $46,096,313.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Seven Bridges Advisors LLC bought a new position in Snap during the 2nd quarter valued at $101,000. First Manhattan Co. boosted its stake in Snap by 384.5% during the 3rd quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock valued at $110,000 after acquiring an additional 6,056 shares during the last quarter. WFG Advisors LP boosted its stake in Snap by 52.4% during the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock valued at $131,000 after acquiring an additional 2,537 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Snap by 654.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company’s stock valued at $134,000 after acquiring an additional 6,540 shares during the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new stake in shares of Snap during the second quarter worth $137,000. Hedge funds and other institutional investors own 17.33% of the company’s stock.

Several brokerages recently commented on SNAP. Oppenheimer Holdings, Inc. dropped their price target on shares of Snap from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, November 8th. Aegis dropped their price target on shares of Snap from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Wednesday, November 8th. Barclays PLC dropped their price target on shares of Snap from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 8th. Stifel Nicolaus lowered shares of Snap from a “buy” rating to a “hold” rating and dropped their price target for the stock from $18.00 to $13.00 in a research report on Wednesday, November 8th. Finally, Pivotal Research reaffirmed a “sell” rating and set a $8.00 price target (down previously from $9.00) on shares of Snap in a research report on Wednesday, November 8th. Fifteen research analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $17.12.

Snap (SNAP) opened at $12.57 on Wednesday. Snap has a 52 week low of $11.28 and a 52 week high of $29.44.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.17. The company had revenue of $207.90 million for the quarter, compared to the consensus estimate of $236.71 million. The company’s revenue for the quarter was up 62.2% on a year-over-year basis. research analysts expect that Snap will post -3.04 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Snap Inc. (SNAP) Short Interest Update” was reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://sportsperspectives.com/2017/11/15/snap-inc-snap-short-interest-update.html.

Snap Company Profile

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.

Receive News & Ratings for Snap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply