C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $2.29 Million in Snap Inc. (NYSE:SNAP)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 212,199 shares of the company's stock, valued at approximately $2,285,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc increased its holdings in shares of Snap by 12.3% during the 4th quarter. CIBC Asset Management Inc now owns 53,524 shares of the company's stock worth $576,000 after buying an additional 5,876 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Snap by 3.5% during the 4th quarter. Sanctuary Advisors LLC now owns 84,978 shares of the company's stock worth $964,000 after purchasing an additional 2,835 shares during the period. Blue Trust Inc. boosted its position in shares of Snap by 128.0% during the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after purchasing an additional 2,453 shares during the period. V Square Quantitative Management LLC boosted its position in shares of Snap by 213.3% during the 4th quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company's stock worth $91,000 after purchasing an additional 5,704 shares during the period. Finally, Compagnie Lombard Odier SCmA boosted its position in shares of Snap by 312.8% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 170,674 shares of the company's stock worth $1,838,000 after purchasing an additional 129,330 shares during the period. Institutional investors and hedge funds own 47.52% of the company's stock.

Insider Activity at Snap

In other news, CFO Derek Andersen sold 94,164 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the sale, the chief financial officer now directly owns 2,193,806 shares of the company's stock, valued at approximately $25,097,140.64. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric Young sold 102,152 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the sale, the senior vice president now directly owns 3,443,419 shares of the company's stock, valued at $37,326,661.96. The trade was a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 499,471 shares of company stock valued at $5,608,926 over the last ninety days. Insiders own 22.68% of the company's stock.

Snap Stock Performance

SNAP traded down $0.34 on Friday, reaching $10.35. The company had a trading volume of 17,222,606 shares, compared to its average volume of 30,158,058. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33. The stock has a market capitalization of $17.55 billion, a PE ratio of -24.63 and a beta of 0.99. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a 50-day moving average price of $11.19 and a 200-day moving average price of $10.75.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, research analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNAP. Guggenheim cut shares of Snap from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 11th. UBS Group increased their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed a "neutral" rating and set a $13.00 price objective (up previously from $12.00) on shares of Snap in a research report on Wednesday, October 30th. Susquehanna raised their price target on shares of Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Finally, Truist Financial raised their price target on shares of Snap from $13.00 to $14.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Snap presently has an average rating of "Hold" and an average target price of $36.87.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.