Snap surged to $15.95 per share this morning, but it remains 45.88% above its mean target price of $10.93. There may still be room for more downwards movement — even after today's 1.2% drop. Analysts are giving the large-cap Software stock on average rating of hold, with target prices ranging from $7.0 to $22.0 per share.
The stock has an average amount of shares sold short at 7.7%, and a short ratio of 3.24. The company's insiders own 9.23% 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 54.4% of Snap's shares being owned by this investor type.
Institutions Invested in Snap
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-09-30 | FMR, LLC | 15% | 203,406,399 | $3,243,314,969 |
| 2023-09-30 | Vanguard Group Inc | 7% | 91,814,471 | $1,463,981,712 |
| 2023-09-30 | Srs Investment Management, Llc | 4% | 52,662,317 | $839,700,628 |
| 2023-09-30 | Capital World Investors | 3% | 45,612,906 | $727,297,772 |
| 2023-09-30 | Blackrock Inc. | 2% | 34,669,885 | $552,811,305 |
| 2023-09-30 | Goldman Sachs Group Inc | 2% | 27,371,454 | $436,437,825 |
| 2023-09-30 | Two Sigma Advisers, LP | 1% | 16,817,877 | $268,161,043 |
| 2023-09-30 | State Street Corporation | 1% | 13,140,920 | $209,531,965 |
| 2023-09-30 | Price (T.Rowe) Associates Inc | 1% | 12,959,020 | $206,631,569 |
| 2023-09-30 | Ossiam | 1% | 12,176,458 | $194,153,619 |
Besides an analyst belief that shares are overpriced, other market factors point to there being mixed market sentiment on Snap.
