Creative Planning Has $1.24 Million Stock Holdings in Snap Inc. (NYSE:SNAP)

Creative Planning cut its stake in Snap Inc. (NYSE:SNAP - Free Report) by 40.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,421 shares of the company's stock after selling 79,811 shares during the period. Creative Planning's holdings in Snap were worth $1,235,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Dynamic Advisor Solutions LLC acquired a new stake in shares of Snap during the third quarter worth $832,000. Exchange Traded Concepts LLC raised its holdings in shares of Snap by 38.7% during the third quarter. Exchange Traded Concepts LLC now owns 784,982 shares of the company's stock worth $8,399,000 after purchasing an additional 219,111 shares during the period. APG Asset Management N.V. raised its holdings in shares of Snap by 3.9% during the second quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company's stock worth $45,835,000 after purchasing an additional 112,135 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Snap in the 1st quarter worth about $3,233,000. Finally, Marshall Wace LLP increased its holdings in shares of Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company's stock worth $243,629,000 after acquiring an additional 12,533,653 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snap

In related news, CAO Rebecca Morrow sold 8,923 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.10, 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Snap news, CEO Evan Spiegel sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total transaction of $1,327,500.00. Following the transaction, the chief executive officer now owns 3,327,844 shares in the company, valued at $29,451,419.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Rebecca Morrow sold 8,923 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.10, for a total value of $81,199.30. Following the transaction, the chief accounting officer now owns 472,405 shares in the company, valued at approximately $4,298,885.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,490,617 shares of company stock valued at $13,183,890. 22.68% of the stock is currently owned by corporate insiders.

Snap Stock Down 3.6 %

Shares of NYSE SNAP traded down $0.46 during mid-day trading on Thursday, reaching $12.16. The company had a trading volume of 76,292,606 shares, compared to its average volume of 27,567,186. The stock has a fifty day moving average of $10.06 and a two-hundred day moving average of $12.69. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The company has a market capitalization of $19.96 billion, a price-to-earnings ratio of -15.25 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 quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates 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 year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Benchmark reaffirmed a "hold" rating on shares of Snap in a report on Friday, October 25th. The Goldman Sachs Group increased their price objective on shares of Snap from $12.00 to $13.50 and gave the stock a "neutral" rating in a report on Wednesday. Citigroup dropped their price objective on shares of Snap from $16.00 to $11.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Morgan Stanley raised shares of Snap from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $12.00 to $16.00 in a report on Tuesday, July 23rd. Finally, JMP Securities dropped their price objective on shares of Snap from $17.00 to $16.00 and set a "market outperform" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Snap has a consensus rating of "Hold" and a consensus price target of $14.25.

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.