Snap Sees Unusually Large Options Volume (NYSE:SNAP)

Snap Inc. (NYSE:SNAP) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 265,738 call options on the stock. This represents an increase of approximately 129% compared to the average daily volume of 116,068 call options.

Insider Buying and Selling at Snap

In related news, insider Ajit Mohan sold 184,287 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $7.18, for a total value of $1,323,180.66. Following the completion of the sale, the insider owned 5,492,006 shares in the company, valued at $39,432,603.08. This represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rebecca Morrow sold 10,216 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $7.17, for a total transaction of $73,248.72. Following the completion of the sale, the chief accounting officer owned 436,087 shares of the company’s stock, valued at approximately $3,126,743.79. This trade represents a 2.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,432,275 shares of company stock worth $11,058,360.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Centaurus Financial Inc. purchased a new position in shares of Snap during the 2nd quarter worth about $208,000. Orion Porfolio Solutions LLC lifted its holdings in shares of Snap by 8.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 18,913 shares of the company’s stock worth $164,000 after acquiring an additional 1,451 shares during the period. State of Wyoming lifted its holdings in shares of Snap by 36.7% during the 2nd quarter. State of Wyoming now owns 45,582 shares of the company’s stock worth $396,000 after acquiring an additional 12,239 shares during the period. Nikko Asset Management Americas Inc. lifted its holdings in shares of Snap by 94.1% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,107,288 shares of the company’s stock worth $18,312,000 after acquiring an additional 1,021,677 shares during the period. Finally, FORA Capital LLC purchased a new position in shares of Snap during the 2nd quarter worth about $129,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNAP has been the subject of several research reports. Evercore ISI upped their price target on shares of Snap from $11.00 to $12.00 and gave the company an “in-line” rating in a research report on Wednesday, August 6th. Cantor Fitzgerald restated a “neutral” rating and set a $7.00 price objective on shares of Snap in a research report on Wednesday, August 6th. Morgan Stanley upped their price objective on shares of Snap from $6.50 to $8.50 and gave the stock an “equal weight” rating in a research report on Monday, July 21st. Citizens Jmp restated a “market perform” rating on shares of Snap in a research report on Wednesday, August 6th. Finally, Bank of America lowered their price target on shares of Snap from $10.00 to $9.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $34.16.

Snap Price Performance

Snap stock opened at $7.75 on Wednesday. Snap has a 12-month low of $6.90 and a 12-month high of $13.28. The stock has a market capitalization of $13.10 billion, a P/E ratio of -24.22 and a beta of 0.62. The firm’s 50-day moving average is $8.19 and its two-hundred day moving average is $8.43. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). Snap had a negative net margin of 9.69% and a negative return on equity of 23.32%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company earned ($0.15) EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Snap has set its Q3 2025 guidance at EPS. Equities analysts predict that Snap will post -0.3 earnings per share for the current year.

Snap Company Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.