Snap Inc. (NYSE:SNAP) Shares Purchased by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors boosted its stake in shares of Snap Inc. (NYSE:SNAP) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,941 shares of the company’s stock after buying an additional 1,749 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Snap were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its holdings in shares of Snap by 7.3% in the 1st quarter. California State Teachers Retirement System now owns 1,534,341 shares of the company’s stock worth $17,614,000 after acquiring an additional 103,755 shares during the period. Virtu Financial LLC acquired a new stake in Snap in the first quarter valued at $236,000. Swedbank AB acquired a new position in shares of Snap during the 1st quarter worth $7,877,000. Cetera Advisors LLC raised its stake in shares of Snap by 32.0% during the 1st quarter. Cetera Advisors LLC now owns 18,631 shares of the company’s stock worth $214,000 after buying an additional 4,517 shares during the last quarter. Finally, Douglas Lane & Associates LLC purchased a new stake in shares of Snap in the 2nd quarter worth about $187,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Trading Up 1.7 %

NYSE SNAP opened at $11.81 on Friday. The firm has a market capitalization of $19.80 billion, a price-to-earnings ratio of -20.35 and a beta of 0.99. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap Inc. has a one year low of $8.29 and a one year high of $17.90. The company’s 50 day moving average price is $11.04 and its 200 day moving average price is $12.34.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm posted ($0.21) EPS. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, sell-side analysts predict that Snap Inc. will post -0.4 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Rebecca Morrow sold 11,154 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $117,674.70. Following the transaction, the chief accounting officer now directly owns 465,064 shares of the company’s stock, valued at approximately $4,906,425.20. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Eric Young sold 50,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $10.54, for a total transaction of $527,000.00. Following the completion of the transaction, the senior vice president now owns 752,110 shares of the company’s stock, valued at $7,927,239.40. This trade represents a 6.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,388,709 shares of company stock worth $16,448,087 over the last quarter. 22.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SNAP has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $14.00 target price on shares of Snap in a research report on Wednesday, September 18th. The Goldman Sachs Group lifted their price objective on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. B. Riley increased their target price on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company cut their price target on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Finally, Susquehanna decreased their price objective on Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.39.

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.