Exchange Traded Concepts LLC Purchases 219,111 Shares of Snap Inc. (NYSE:SNAP)

Exchange Traded Concepts LLC lifted its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 38.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 784,982 shares of the company's stock after acquiring an additional 219,111 shares during the quarter. Exchange Traded Concepts LLC's holdings in Snap were worth $8,399,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hollencrest Capital Management acquired a new position in Snap in the 2nd quarter worth $33,000. Blue Trust Inc. lifted its holdings in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock worth $36,000 after buying an additional 1,682 shares in the last quarter. Rothschild Investment LLC acquired a new position in Snap in the 2nd quarter worth $40,000. J.Safra Asset Management Corp lifted its holdings in Snap by 534.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company's stock worth $46,000 after buying an additional 2,330 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Snap in the 4th quarter worth $108,000. Institutional investors and hedge funds own 47.52% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SNAP shares. Wolfe Research started coverage on shares of Snap in a research report on Tuesday, July 16th. They issued a "peer perform" rating for the company. JMP Securities reaffirmed a "market perform" rating on shares of Snap in a research report on Wednesday, September 18th. The Goldman Sachs Group reduced their price target on shares of Snap from $16.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, August 2nd. Argus raised shares of Snap to a "hold" rating in a research report on Thursday, August 8th. Finally, Citigroup reduced their price target on shares of Snap from $16.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $13.85.

Insider Buying and Selling

In related news, SVP Eric Young sold 114,097 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the transaction, the senior vice president now owns 3,041,723 shares of the company's stock, valued at approximately $27,710,096.53. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the firm's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total transaction of $239,040.00. Following the transaction, the general counsel now owns 463,908 shares in the company, valued at approximately $6,160,698.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Young sold 114,097 shares of the firm'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 owns 3,041,723 shares in the company, valued at $27,710,096.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,510,352 shares of company stock valued at $13,446,353. Company insiders own 22.68% of the company's stock.

Snap Trading Up 4.4 %

Snap stock opened at $11.13 on Monday. The firm has a 50 day simple moving average of $9.63 and a 200-day simple moving average of $12.74. 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 $18.26 billion, a PE ratio of -13.74 and a beta of 1.01. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.90.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share 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 analysts' expectations of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. As a group, equities research analysts expect that Snap Inc. will post -0.47 EPS for the current fiscal year.

Snap Profile

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.