Cambridge Investment Research Advisors Inc. Purchases 122,511 Shares of Snap Inc. (NYSE:SNAP)

Cambridge Investment Research Advisors Inc. raised its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 368.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,723 shares of the company's stock after acquiring an additional 122,511 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Snap were worth $2,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. SRS Investment Management LLC raised its stake in Snap by 23.6% during the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company's stock valued at $1,102,392,000 after purchasing an additional 12,452,415 shares during the last quarter. Carmignac Gestion bought a new stake in shares of Snap in the fourth quarter valued at about $110,103,000. Contrarius Investment Management Ltd acquired a new stake in Snap during the fourth quarter worth about $80,644,000. Vanguard Group Inc. increased its stake in Snap by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company's stock valued at $1,613,729,000 after acquiring an additional 3,503,230 shares during the period. Finally, TB Alternative Assets Ltd. raised its holdings in Snap by 144.5% in the 1st quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company's stock valued at $58,488,000 after acquiring an additional 3,011,400 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNAP has been the topic of several recent research reports. Piper Sandler reissued a "neutral" rating and set a $12.00 price objective (down previously from $15.00) on shares of Snap in a report on Friday, August 2nd. Barclays reduced their price objective on shares of Snap from $17.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Snap from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group cut their price target on shares of Snap from $16.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, August 2nd. Finally, Susquehanna decreased their price objective on Snap from $15.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-one have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Snap presently has a consensus rating of "Hold" and an average price target of $14.10.

Insider Activity at Snap

In other Snap news, CAO Rebecca Morrow sold 8,923 shares of Snap stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.10, for a total transaction of $81,199.30. Following the completion of the sale, the chief accounting officer now owns 472,405 shares of the company's stock, valued at approximately $4,298,885.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Evan Spiegel sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total value of $1,327,500.00. Following the sale, the chief executive officer now directly owns 3,327,844 shares in the company, valued at approximately $29,451,419.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 8,923 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.10, for a total transaction of $81,199.30. Following the transaction, the chief accounting officer now owns 472,405 shares of the company's stock, valued at approximately $4,298,885.50. The disclosure for this sale can be found here. Insiders have sold 1,338,370 shares of company stock worth $11,984,203 over the last ninety days. Company insiders own 22.68% of the company's stock.

Snap Trading Up 1.3 %

Shares of SNAP stock traded up $0.12 on Monday, reaching $9.34. 17,230,500 shares of the stock were exchanged, compared to its average volume of 27,563,469. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. Snap Inc. has a one year low of $8.28 and a one year high of $17.90. The stock has a market cap of $15.50 billion, a PE ratio of -11.53 and a beta of 1.03. The stock has a 50 day moving average price of $12.59 and a 200 day moving average price of $13.00.

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