8,725 Shares in Snap Inc. (NYSE:SNAP) Bought by JTC Employer Solutions Trustee Ltd

JTC Employer Solutions Trustee Ltd purchased a new position in Snap Inc. (NYSE:SNAP) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,725 shares of the company’s stock, valued at approximately $100,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNAP. NBC Securities Inc. boosted its holdings in Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after acquiring an additional 1,445 shares in the last quarter. Allworth Financial LP grew its position in Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares during the period. ICA Group Wealth Management LLC bought a new stake in Snap during the 4th quarter valued at $51,000. Rakuten Securities Inc. bought a new stake in Snap during the 4th quarter valued at $73,000. Finally, Westpac Banking Corp raised its holdings in Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after buying an additional 2,506 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SNAP shares. Truist Financial boosted their target price on shares of Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Canaccord Genuity Group increased their price objective on Snap from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. UBS Group cut their target price on Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Wells Fargo & Company upped their price target on Snap from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Susquehanna raised their price objective on Snap from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.82.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the completion of the transaction, the general counsel now directly owns 481,908 shares of the company’s stock, valued at approximately $7,980,396.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Eric Young sold 115,915 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total value of $1,844,207.65. Following the sale, the senior vice president now directly owns 3,292,657 shares of the company’s stock, valued at $52,386,172.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $16.56, for a total transaction of $298,080.00. Following the completion of the transaction, the general counsel now directly owns 481,908 shares of the company’s stock, valued at approximately $7,980,396.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,372,583 shares of company stock valued at $19,934,275.

Snap Stock Performance

Shares of NYSE:SNAP traded down $0.51 during midday trading on Wednesday, reaching $15.75. 11,493,237 shares of the company traded hands, compared to its average volume of 28,314,217. The firm’s fifty day moving average price is $15.68 and its two-hundred day moving average price is $14.17. The firm has a market capitalization of $25.85 billion, a price-to-earnings ratio of -19.44 and a beta of 1.03. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. Snap Inc. has a 12 month low of $8.28 and a 12 month high of $17.90.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. On average, equities analysts expect that Snap Inc. will post -0.43 earnings per share for the current year.

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.