On February 13, 2023 at 11:16:35 (ET) an unusually large $78.00K block of Call contracts in Snapchat (SNAP) was bought, with a strike price of $12.00 / share, expiring in 11 days (on February 24, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.11 sigmas above the mean, placing it in the 86.95 percentile of all recent large trades made in SNAP options.
Analyst Price Forecast Suggests 8.61% Upside
As of February 12, 2023, the average one-year price target for Snapchat is $11.57. The forecasts range from a low of $7.07 to a high of $44.10. The average price target represents an increase of 8.61% from its latest reported closing price of $10.65.
The projected annual revenue for Snapchat is $5,131MM, an increase of 11.50%. The projected annual EPS is $0.37.
What is the Fund Sentiment?
There are 1013 funds or institutions reporting positions in Snapchat. This is a decrease of 123 owner(s) or 10.83% in the last quarter. Average portfolio weight of all funds dedicated to SNAP is 0.23%, a decrease of 10.06%. Total shares owned by institutions decreased in the last three months by 18.89% to 825,607K shares. The put/call ratio of SNAP is 0.74, indicating a bullish outlook.
What are large shareholders doing?
FBGRX – Fidelity Blue Chip Growth Fund holds 47,206K shares representing 2.99% ownership of the company. In it’s prior filing, the firm reported owning 23,166K shares, representing an increase of 50.93%. The firm increased its portfolio allocation in SNAP by 130.73% over the last quarter.
EGFIX – Edgewood Growth Fund Institutional Class Shares holds 41,305K shares representing 2.61% ownership of the company. In it’s prior filing, the firm reported owning 43,525K shares, representing a decrease of 5.38%. The firm decreased its portfolio allocation in SNAP by 50.12% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 31,165K shares representing 1.97% ownership of the company. In it’s prior filing, the firm reported owning 30,499K shares, representing an increase of 2.14%. The firm decreased its portfolio allocation in SNAP by 20.34% over the last quarter.
Goldman Sachs Group holds 27,837K shares representing 1.76% ownership of the company. In it’s prior filing, the firm reported owning 21,594K shares, representing an increase of 22.43%. The firm decreased its portfolio allocation in SNAP by 1.36% over the last quarter.
TRBCX – T. Rowe Price Blue Chip Growth Fund holds 25,061K shares representing 1.58% ownership of the company. In it’s prior filing, the firm reported owning 25,717K shares, representing a decrease of 2.62%. The firm decreased its portfolio allocation in SNAP by 51.01% over the last quarter.
Snap Background Information
(This description is provided by the company.)
Snap Inc. is a camera company. Snap believes that reinventing the camera represents its greatest opportunity to improve the way people live and communicate. The company contributes to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together.
This article originally appeared on Fintel
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