Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 12,867 Shares of Snap Inc. (NYSE:SNAP)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its stake in Snap Inc. (NYSE:SNAP) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 272,473 shares of the company’s stock after selling 12,867 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Snap were worth $2,935,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SNAP. V Square Quantitative Management LLC bought a new position in shares of Snap in the third quarter worth $29,000. Paladin Wealth LLC purchased a new stake in shares of Snap in the third quarter worth $30,000. Advisors Asset Management Inc. raised its position in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Snap in the third quarter worth $41,000. Finally, Quest Partners LLC purchased a new stake in shares of Snap in the third quarter worth $81,000. 47.52% of the stock is owned by institutional investors.

Snap Stock Performance

Snap stock opened at $10.85 on Tuesday. The stock’s 50 day simple moving average is $11.49 and its two-hundred day simple moving average is $11.06. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The stock has a market cap of $18.19 billion, a price-to-earnings ratio of -18.70 and a beta of 0.98. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.50.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.21) EPS. As a group, analysts expect that Snap Inc. will post -0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SNAP. Evercore ISI increased their price objective on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Truist Financial increased their price objective on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald increased their price objective on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price target on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Snap in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.99.

Insider Buying and Selling at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the sale, the chief technology officer now owns 57,210,989 shares in the company, valued at $715,137,362.50. This represents a 1.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 11,154 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the sale, the chief accounting officer now owns 465,064 shares in the company, valued at $4,906,425.20. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,451,618 shares of company stock valued at $17,560,157. 22.68% of the stock is currently owned by corporate insiders.

Snap Company 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.