Investors Purchase High Volume of Snap Call Options (NYSE:SNAP)

Snap Inc. (NYSE:SNAP) saw unusually large options trading activity on Thursday. Stock traders purchased 226,149 call options on the company. This is an increase of approximately 49% compared to the average volume of 151,920 call options.

Snap Trading Up 3.6%

NYSE:SNAP opened at $8.52 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 3.88 and a current ratio of 3.88. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of -26.63 and a beta of 0.71. Snap has a 52 week low of $6.90 and a 52 week high of $13.28. The firm has a 50-day moving average price of $7.80 and a two-hundred day moving average price of $8.35.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, meeting 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 firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business posted ($0.15) EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Snap has set its Q3 2025 guidance at EPS. On average, equities analysts expect that Snap will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SNAP. Wells Fargo & Company upped their target price on shares of Snap from $8.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 1st. Bank of America lowered their target price on shares of Snap from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Sanford C. Bernstein upped their target price on shares of Snap from $9.00 to $10.00 and gave the stock a “market perform” rating in a report on Tuesday, July 22nd. UBS Group lowered their target price on shares of Snap from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Finally, Citigroup lowered shares of Snap from an “outperform” rating to a “negative” rating in a research note on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $34.77.

Insider Activity at Snap

In related news, CFO Derek Andersen sold 60,966 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $7.17, for a total value of $437,126.22. Following the sale, the chief financial officer owned 3,143,452 shares in the company, valued at $22,538,550.84. This represents a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Michael J. O’sullivan sold 68,705 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $7.18, for a total transaction of $493,301.90. Following the completion of the sale, the general counsel owned 2,015,624 shares in the company, valued at $14,472,180.32. This represents a 3.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,510,532 shares of company stock worth $11,629,869 over the last quarter. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Several large investors have recently modified their holdings of SNAP. NBC Securities Inc. increased its stake in shares of Snap by 154,650.0% during the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company’s stock worth $26,000 after purchasing an additional 3,093 shares during the last quarter. Signaturefd LLC increased its stake in shares of Snap by 169.9% during the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock worth $26,000 after purchasing an additional 1,852 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of Snap by 155.4% during the 1st quarter. Rakuten Securities Inc. now owns 3,489 shares of the company’s stock worth $30,000 after purchasing an additional 2,123 shares during the last quarter. Quarry LP purchased a new stake in shares of Snap during the 1st quarter worth approximately $34,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Snap during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

About Snap

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.