57,210 Shares in Snap Inc. (NYSE:SNAP) Purchased by IHT Wealth Management LLC

IHT Wealth Management LLC bought a new stake in shares of Snap Inc. (NYSE:SNAP - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 57,210 shares of the company's stock, valued at approximately $607,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNAP. GraniteShares Advisors LLC boosted its holdings in shares of Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company's stock valued at $634,000 after acquiring an additional 941 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in Snap by 4.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company's stock valued at $448,000 after purchasing an additional 1,048 shares during the period. Metis Global Partners LLC lifted its position in Snap by 6.9% in the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company's stock valued at $207,000 after acquiring an additional 1,255 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Snap by 1.9% during the third quarter. Intech Investment Management LLC now owns 77,592 shares of the company's stock valued at $830,000 after buying an additional 1,433 shares during the last quarter. Finally, DMC Group LLC boosted its stake in shares of Snap by 10.5% in the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company's stock worth $259,000 after buying an additional 1,477 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company's stock.

Snap Trading Up 2.2 %

NYSE SNAP traded up $0.27 on Friday, hitting $12.44. 58,197,712 shares of the stock were exchanged, compared to its average volume of 25,530,772. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The firm has a market capitalization of $20.86 billion, a P/E ratio of -21.45 and a beta of 0.97. The stock has a fifty day moving average price of $11.23 and a two-hundred day moving average price of $12.16.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted ($0.21) earnings per share. The company's revenue for the quarter was up 15.4% on a year-over-year basis. Research analysts forecast that Snap Inc. will post -0.4 EPS for the current fiscal year.

Insider Transactions at Snap

In other Snap news, General Counsel Michael J. O'sullivan sold 59,053 shares of Snap stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $548,602.37. Following the transaction, the general counsel now owns 1,258,278 shares in the company, valued at $11,689,402.62. The trade was a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Young sold 50,000 shares of Snap stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $10.54, for a total transaction of $527,000.00. Following the completion of the transaction, the senior vice president now directly owns 752,110 shares in the company, valued at approximately $7,927,239.40. The trade was a 6.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,406,709 shares of company stock valued at $16,662,107. 22.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup lifted their price objective on shares of Snap from $11.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, November 29th. Royal Bank of Canada reissued a "sector perform" rating and issued a $16.00 price target on shares of Snap in a report on Wednesday, October 30th. Truist Financial increased their price target on shares of Snap from $13.00 to $14.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Benchmark reiterated a "hold" rating on shares of Snap in a research report on Friday, October 25th. Finally, The Goldman Sachs Group raised their price target on Snap from $12.00 to $13.50 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $37.10.

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.