Shares of Snap Inc. (NYSE:SNAP – Get Rating) saw unusually-high trading volume on Thursday after Rosenblatt Securities raised their price target on the stock from $8.00 to $10.00. Rosenblatt Securities currently has a neutral rating on the stock. Approximately 7,445,168 shares were traded during trading, a decline of 76% from the previous session's volume of 31,525,922 shares.The stock last traded at $10.90 and had previously closed at $10.37.

Several other brokerages also recently commented on SNAP. Bank Of America (Bofa) downgraded Snap from a "buy" rating to a "neutral" rating and cut their target price for the stock from $22.00 to $11.00 in a report on Friday, October 21st. Benchmark cut Snap from a "buy" rating to a "hold" rating in a report on Wednesday. Morgan Stanley lowered their price target on shares of Snap from $10.00 to $7.00 and set an "underweight" rating for the company in a report on Friday, October 21st. MKM Partners lowered shares of Snap from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $15.00 to $10.00 in a research note on Friday, October 21st. Finally, Susquehanna Bancshares lowered their target price on shares of Snap from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, October 21st. Three equities research analysts have rated the stock with a sell rating, thirty have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $13.71.

Insider Transactions at Snap

In other Snap news, General Counsel Michael J. O'sullivan sold 5,155 shares of the firm's stock in a transaction on Friday, December 16th. The stock was sold at an average price of $8.47, for a total transaction of $43,662.85. Following the transaction, the general counsel now directly owns 582,564 shares in the company, valued at approximately $4,934,317.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Jerry James Hunter sold 42,105 shares of the company's stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $11.45, for a total value of $482,102.25. Following the completion of the transaction, the chief operating officer now directly owns 668,336 shares of the company's stock, valued at $7,652,447.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. O'sullivan sold 5,155 shares of Snap stock in a transaction on Friday, December 16th. The stock was sold at an average price of $8.47, for a total value of $43,662.85. Following the sale, the general counsel now owns 582,564 shares in the company, valued at $4,934,317.08. The disclosure for this sale can be found here. Insiders sold a total of 249,869 shares of company stock valued at $2,555,971 over the last ninety days. 22.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snap

Snap Stock Up 9.9 %

The firm has a market capitalization of $18.39 billion, a PE ratio of -12.95 and a beta of 1.09. The stock has a 50-day simple moving average of $9.56 and a 200-day simple moving average of $10.37. The company has a quick ratio of 4.86, a current ratio of 4.86 and a debt-to-equity ratio of 1.29.

About Snap

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Snap, Inc operates as a camera company. Its flagship product, Snapchat, is a camera application that helps people communicate visually with friends and family through short videos and images called Snaps. The firm's primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C.

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