Shares of Snap Inc (NYSE:SNAP) saw unusually-strong trading volume on Thursday . Approximately 81,161,500 shares traded hands during trading, an increase of 182% from the previous session’s volume of 28,779,779 shares.The stock last traded at $11.28 and had previously closed at $10.05.

A number of equities research analysts recently issued reports on SNAP shares. Pivotal Research reissued a “hold” rating and issued a $6.00 target price on shares of Snap in a research report on Wednesday, January 16th. Goldman Sachs Group lowered Snap from a “buy” rating to a “neutral” rating and dropped their target price for the company from $10.00 to $6.00 in a research report on Friday, January 4th. Zacks Investment Research raised Snap from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research report on Monday, February 4th. Cowen raised Snap from an “underperform” rating to a “market perform” rating and set a $6.00 target price on the stock in a research report on Thursday, January 10th. Finally, BTIG Research raised Snap from a “sell” rating to a “neutral” rating in a research report on Thursday, December 20th. Four investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $8.85.

The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of -11.63 and a beta of 1.14.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, February 5th. The company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.15. The firm had revenue of $389.82 million for the quarter, compared to analyst estimates of $378.90 million. Snap had a negative return on equity of 46.90% and a negative net margin of 106.39%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.13) EPS. On average, sell-side analysts expect that Snap Inc will post -0.69 EPS for the current year.

In other news, CAO Lara Sweet sold 6,489 shares of Snap stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $5.77, for a total transaction of $37,441.53. Following the completion of the transaction, the chief accounting officer now directly owns 700,027 shares in the company, valued at approximately $4,039,155.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Evan Spiegel sold 4,447,107 shares of Snap stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $9.98, for a total value of $44,382,127.86. Following the transaction, the chief executive officer now owns 74,450,661 shares of the company’s stock, valued at $743,017,596.78. The disclosure for this sale can be found here. Insiders have sold a total of 6,437,339 shares of company stock worth $63,026,468 in the last ninety days.

Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC boosted its stake in shares of Snap by 306.5% during the 4th quarter. FNY Investment Advisers LLC now owns 5,000 shares of the company’s stock worth $27,000 after acquiring an additional 3,770 shares during the period. Edge Wealth Management LLC boosted its stake in shares of Snap by 1,173.7% during the 4th quarter. Edge Wealth Management LLC now owns 5,426 shares of the company’s stock worth $30,000 after acquiring an additional 5,000 shares during the period. Atlas Capital Advisors LLC bought a new stake in Snap in the 4th quarter valued at $41,000. Wedbush Securities Inc. bought a new stake in Snap in the 4th quarter valued at $55,000. Finally, Sigma Planning Corp bought a new stake in Snap in the 4th quarter valued at $56,000. Institutional investors own 23.31% of the company’s stock.

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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 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 surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

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