Snap (NYSE:SNAP) Price Target Raised to $12.00 at Truist Financial

Snap (NYSE:SNAPFree Report) had its target price increased by Truist Financial from $11.00 to $12.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a hold rating on the stock.

Other analysts also recently issued research reports about the company. China Renaissance raised Snap from a sell rating to a hold rating and set a $9.00 price target on the stock in a research note on Thursday, October 26th. Morgan Stanley reduced their price target on Snap from $13.00 to $11.00 and set an underweight rating on the stock in a research report on Wednesday. Roth Mkm increased their price target on Snap from $10.00 to $14.00 and gave the stock a neutral rating in a research report on Friday, January 26th. Deutsche Bank Aktiengesellschaft upgraded Snap from a hold rating to a buy rating and upped their target price for the stock from $10.00 to $19.00 in a research note on Friday, January 26th. Finally, Rosenblatt Securities increased their price target on Snap from $11.00 to $12.00 and gave the company a neutral rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap presently has a consensus rating of Hold and an average price target of $13.46.

Check Out Our Latest Analysis on SNAP

Snap Price Performance

NYSE SNAP opened at $11.41 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 4.83 and a current ratio of 4.83. The stock’s 50 day simple moving average is $16.19 and its 200 day simple moving average is $12.23. Snap has a one year low of $7.86 and a one year high of $17.90.

Insider Buying and Selling at Snap

In other news, SVP Eric Young sold 119,112 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $11.90, for a total value of $1,417,432.80. Following the transaction, the senior vice president now directly owns 3,391,040 shares of the company’s stock, valued at $40,353,376. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Derek Andersen sold 10,047 shares of Snap stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $12.15, for a total value of $122,071.05. Following the transaction, the chief financial officer now directly owns 2,333,483 shares of the company’s stock, valued at approximately $28,351,818.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric Young sold 119,112 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $11.90, for a total transaction of $1,417,432.80. Following the transaction, the senior vice president now directly owns 3,391,040 shares in the company, valued at $40,353,376. The disclosure for this sale can be found here. Insiders have sold a total of 276,589 shares of company stock valued at $3,796,543 over the last ninety days. Corporate insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. Ieq Capital LLC lifted its stake in Snap by 163.4% in the fourth quarter. Ieq Capital LLC now owns 773,720 shares of the company’s stock valued at $13,099,000 after buying an additional 480,021 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Snap by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,184,684 shares of the company’s stock valued at $36,992,000 after buying an additional 351,837 shares during the last quarter. Qsemble Capital Management LP bought a new stake in Snap in the fourth quarter valued at $1,330,000. NBC Securities Inc. lifted its stake in Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after buying an additional 1,445 shares during the last quarter. Finally, Gryphon Financial Partners LLC bought a new stake in Snap in the fourth quarter valued at $204,000. 44.37% of the stock is currently owned by hedge funds and other institutional investors.

Snap Company Profile

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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.

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