On April 18, 2023 at 09:54:12 ET an unusually large $136.00K block of Call contracts in Snapchat (SNAP) was bought, with a strike price of $11.50 / share, expiring in 3 day(s) (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.62 sigmas above the mean, placing it in the 95.20th percentile of all recent large trades made in SNAP options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 950 funds or institutions reporting positions in Snapchat. This is a decrease of 118 owner(s) or 11.05% in the last quarter. Average portfolio weight of all funds dedicated to SNAP is 0.29%, an increase of 25.01%. Total shares owned by institutions decreased in the last three months by 12.34% to 732,191K shares. The put/call ratio of SNAP is 0.65, indicating a bullish outlook.

Analyst Price Forecast Suggests 2.95% Downside

As of April 6, 2023, the average one-year price target for Snapchat is $10.56. The forecasts range from a low of $7.07 to a high of $16.80. The average price target represents a decrease of 2.95% from its latest reported closing price of $10.88.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Snapchat is $5,131MM, an increase of 11.50%. The projected annual non-GAAP EPS is $0.37.

What are Other Shareholders Doing?

PABU – iShares Paris-Aligned Climate MSCI USA ETF holds 20K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 18K shares, representing an increase of 11.56%. The firm decreased its portfolio allocation in SNAP by 2.69% over the last quarter.

Fidelity Central Investment Portfolios LLC – Fidelity Emerging Markets Equity Central Fund holds 309K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 270K shares, representing an increase of 12.48%. The firm decreased its portfolio allocation in SNAP by 14.96% over the last quarter.

Wolff Wiese Magana holds 2K shares representing 0.00% ownership of the company. No change in the last quarter.

STCIX – Virtus Silvant Large-Cap Growth Stock Fund holds 8K shares representing 0.00% ownership of the company. No change in the last quarter.

Geode Capital Management holds 9,387K shares representing 0.59% ownership of the company. In it’s prior filing, the firm reported owning 9,355K shares, representing an increase of 0.34%. The firm decreased its portfolio allocation in SNAP by 15.45% 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.

See all Snapchat regulatory filings.

This article originally appeared on Fintel

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