Raymond James Financial Inc. Purchases New Holdings in Snap Inc. (NYSE:SNAP)

Raymond James Financial Inc. acquired a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 305,593 shares of the company's stock, valued at approximately $3,291,000.

A number of other institutional investors also recently made changes to their positions in SNAP. Mountain Hill Investment Partners Corp. bought a new stake in shares of Snap in the fourth quarter worth $27,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Snap in the 4th quarter worth about $32,000. Blue Trust Inc. raised its stake in shares of Snap by 128.0% in the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock valued at $47,000 after purchasing an additional 2,453 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in shares of Snap in the 4th quarter valued at about $54,000. Finally, V Square Quantitative Management LLC lifted its position in shares of Snap by 213.3% during the fourth quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company's stock worth $91,000 after purchasing an additional 5,704 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snap

In other Snap news, General Counsel Michael J. O'sullivan sold 24,000 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $8.60, for a total transaction of $206,400.00. Following the sale, the general counsel now owns 507,660 shares of the company's stock, valued at $4,365,876. This represents a 4.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eric Young sold 102,152 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the sale, the senior vice president now directly owns 3,443,419 shares of the company's stock, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,356,523 shares of company stock valued at $12,710,077 over the last quarter. 22.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on SNAP shares. Susquehanna upped their price objective on Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Citizens Jmp raised Snap from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. The Goldman Sachs Group decreased their price objective on shares of Snap from $13.50 to $9.50 and set a "neutral" rating for the company in a report on Monday, April 14th. Wells Fargo & Company dropped their target price on shares of Snap from $11.00 to $9.00 and set an "equal weight" rating on the stock in a report on Monday, March 31st. Finally, Stifel Nicolaus reduced their price target on shares of Snap from $11.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Snap has a consensus rating of "Hold" and an average price target of $38.09.

Snap Stock Up 2.3 %

Shares of Snap stock opened at $8.52 on Monday. The firm has a market cap of $14.45 billion, a price-to-earnings ratio of -20.29 and a beta of 0.92. The stock has a 50-day simple moving average of $8.90 and a 200-day simple moving average of $10.48. Snap Inc. has a 52-week low of $7.08 and a 52-week high of $17.33. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, equities research analysts expect that Snap Inc. will post -0.3 earnings per share 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.

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