Shares of Snap rose to $12.19 during today's afternoon trading session. Despite the 1.4% change, the large-cap Software company still trades 32.83% above its average analyst target price of $9.18. So there may be further downside for the Software stock. Snap has target prices ranging from $6.0 to $14.0 per share, and its average rating is hold.
The stock has an average amount of shares sold short at 7.5%, and a short ratio of 3.08. The company's insiders own 9.39% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 53.1% of Snap's shares being owned by this investor type.
Institutions Invested in Snap
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-03-31 | FMR, LLC | 10% | 137,636,783 | $1,678,315,400 |
| 2023-03-31 | Vanguard Group, Inc. (The) | 7% | 88,468,700 | $1,078,769,631 |
| 2023-03-31 | Blackrock Inc. | 3% | 37,972,047 | $463,023,545 |
| 2023-03-31 | Capital World Investors | 2% | 30,653,388 | $373,781,281 |
| 2023-03-31 | Shaw D.E. & Co., Inc. | 2% | 26,041,221 | $317,541,439 |
| 2023-03-31 | Two Sigma Advisers, LP | 2% | 24,618,677 | $300,195,222 |
| 2023-03-31 | Goldman Sachs Group Inc | 2% | 24,570,667 | $299,609,798 |
| 2023-03-31 | Two Sigma Investments, LP | 1% | 19,784,096 | $241,243,309 |
| 2023-03-31 | JP Morgan Chase & Company | 1% | 19,097,565 | $232,871,887 |
| 2023-03-31 | State Street Corporation | 1% | 12,454,432 | $151,866,852 |
Besides an analyst belief that shares are overpriced, other market factors point to there being mixed market sentiment on Snap.
