Raymond James Financial Inc. purchased a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 305,593 shares of the company's stock, valued at approximately $3,291,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SNAP. Arizona State Retirement System raised its stake in Snap by 2.7% during the fourth quarter. Arizona State Retirement System now owns 306,137 shares of the company's stock worth $3,297,000 after buying an additional 8,133 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Snap by 1.7% during the 4th quarter. Victory Capital Management Inc. now owns 286,080 shares of the company's stock worth $3,081,000 after acquiring an additional 4,808 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Snap by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock worth $71,095,000 after acquiring an additional 389,812 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Snap in the 4th quarter valued at about $330,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Snap by 13.0% during the 4th quarter. Jones Financial Companies Lllp now owns 16,421 shares of the company's stock valued at $177,000 after purchasing an additional 1,894 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company's stock.
Insider Buying and Selling at Snap
In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $11.49, for a total transaction of $206,820.00. Following the completion of the transaction, the general counsel now directly owns 480,498 shares in the company, valued at $5,520,922.02. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Young sold 102,152 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the transaction, the senior vice president now directly owns 3,443,419 shares in the company, valued at approximately $37,326,661.96. The trade was a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,350,523 shares of company stock valued at $12,698,797 in the last quarter. 22.68% of the stock is currently owned by corporate insiders.
Snap Stock Performance
SNAP traded down $0.18 on Monday, hitting $8.71. The company's stock had a trading volume of 23,384,266 shares, compared to its average volume of 27,126,311. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33. The firm has a market cap of $14.77 billion, a P/E ratio of -20.73 and a beta of 0.92. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The company's 50 day simple moving average is $10.12 and its 200-day simple moving average is $10.82.
Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Analysts forecast that Snap Inc. will post -0.3 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages have weighed in on SNAP. Citizens Jmp downgraded Snap from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 5th. Barclays reiterated an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. Citigroup increased their target price on shares of Snap from $13.00 to $13.50 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Bank of America lifted their price target on shares of Snap from $14.00 to $14.50 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Finally, Needham & Company LLC reissued a "buy" rating and set a $640.00 price objective on shares of Snap in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $36.80.
Get Our Latest Report on Snap
Snap Company Profile
(
Free Report)
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.
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