Retireful LLC Takes Position in Snap Inc. (NYSE:SNAP)

Retireful LLC acquired a new stake in Snap Inc. (NYSE:SNAP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 131,944 shares of the company's stock, valued at approximately $2,192,000. Snap comprises 1.0% of Retireful LLC's holdings, making the stock its 27th biggest position.

A number of other institutional investors have also modified their holdings of the business. NBC Securities Inc. increased its stake in Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company's stock valued at $25,000 after buying an additional 1,445 shares during the period. Blue Trust Inc. increased its stake in shares of Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock worth $36,000 after acquiring an additional 1,682 shares during the period. Rothschild Investment LLC purchased a new position in Snap during the second quarter worth about $40,000. J.Safra Asset Management Corp lifted its position in Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company's stock valued at $46,000 after purchasing an additional 2,330 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new stake in Snap in the 4th quarter valued at approximately $51,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Eric Young sold 114,097 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the transaction, the senior vice president now directly owns 3,041,723 shares of the company's stock, valued at $27,710,096.53. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Eric Young sold 114,097 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the transaction, the senior vice president now owns 3,041,723 shares in the company, valued at $27,710,096.53. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now directly owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,338,370 shares of company stock valued at $11,984,203. Corporate insiders own 22.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNAP. Piper Sandler reissued a "neutral" rating and issued a $12.00 target price (down previously from $15.00) on shares of Snap in a report on Friday, August 2nd. The Goldman Sachs Group dropped their target price on shares of Snap from $16.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, August 2nd. Bank of America cut their price target on Snap from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Friday, August 2nd. HSBC cut shares of Snap from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd. Finally, Barclays cut their target price on shares of Snap from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $14.10.

Snap Trading Up 1.3 %

SNAP stock traded up $0.12 on Friday, hitting $9.34. 17,230,554 shares of the company were exchanged, compared to its average volume of 29,633,610. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The stock has a market capitalization of $15.50 billion, a price-to-earnings ratio of -11.53 and a beta of 1.03. Snap Inc. has a twelve month low of $8.28 and a twelve month high of $17.90. The business's fifty day moving average is $12.71 and its two-hundred day moving average is $13.02.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.25 billion. As a group, research analysts forecast that Snap Inc. will post -0.48 earnings per share for the current year.

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.