Snap Inc (NYSE:SNAP) shares gapped down before the market opened on Friday . The stock had previously closed at $15.69, but opened at $15.37. Snap shares last traded at $15.15, with a volume of 12082231 shares traded.

SNAP has been the topic of several research reports. Wedbush initiated coverage on shares of Snap in a research report on Wednesday, August 30th. They set a “neutral” rating and a $12.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $18.00 price target on shares of Snap in a research report on Tuesday, September 5th. Drexel Hamilton reiterated a “buy” rating and set a $30.00 price target on shares of Snap in a research report on Tuesday, September 5th. Cantor Fitzgerald reiterated a “buy” rating and set a $15.00 price target on shares of Snap in a research report on Wednesday, September 6th. Finally, Deutsche Bank downgraded shares of Snap from a “buy” rating to a “hold” rating and reduced their price target for the stock from $20.00 to $17.00 in a research report on Monday, September 11th. Sixteen investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $16.86.

The stock has a market capitalization of $17,980.00 and a P/E ratio of -4.76.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.17. The company had revenue of $207.90 million during the quarter, compared to analysts’ expectations of $236.71 million. Snap had a negative return on equity of 107.36% and a negative net margin of 463.16%. The firm’s revenue for the quarter was up 62.2% on a year-over-year basis. equities research analysts anticipate that Snap Inc will post -3.04 EPS for the current fiscal year.

In related news, VP Lara Sweet sold 29,296 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $15.92, for a total transaction of $466,392.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew Vollero sold 70,566 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $16.09, for a total value of $1,135,406.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,140,711 shares of company stock valued at $55,330,768.

A number of hedge funds and other institutional investors have recently bought and sold shares of SNAP. Pacer Advisors Inc. boosted 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 boosted 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 boosted 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. boosted 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 boosted 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. 18.88% of the stock is owned by institutional investors and hedge funds.

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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.

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