Douglas Lane & Associates LLC Takes $187,000 Position in Snap Inc. (NYSE:SNAP)

Douglas Lane & Associates LLC purchased a new stake in shares of Snap Inc. (NYSE:SNAP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,267 shares of the company’s stock, valued at approximately $187,000.

Other large investors have also made changes to their positions in the company. NBC Securities Inc. increased its stake in Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after buying an additional 1,445 shares during the period. Allworth Financial LP increased its stake in shares of Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Snap during the 4th quarter worth $51,000. Rakuten Securities Inc. acquired a new position in shares of Snap during the 4th quarter worth $73,000. Finally, Westpac Banking Corp increased its stake in shares of Snap by 108.7% during the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after purchasing an additional 2,506 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. TD Cowen increased their price target on shares of Snap from $11.00 to $14.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Benchmark reaffirmed a “hold” rating on shares of Snap in a report on Tuesday. Truist Financial decreased their price objective on shares of Snap from $16.00 to $13.00 and set a “hold” rating for the company in a report on Friday. Canaccord Genuity Group upped their price objective on shares of Snap from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Finally, The Goldman Sachs Group reduced their price target on shares of Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.23.

Snap Price Performance

Shares of Snap stock traded down $0.08 during mid-day trading on Tuesday, reaching $8.64. 46,960,913 shares of the stock were exchanged, compared to its average volume of 28,298,436. The company has a market cap of $14.17 billion, a price-to-earnings ratio of -10.66 and a beta of 1.03. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 1.55. The firm has a 50-day simple moving average of $14.95 and a 200 day simple moving average of $13.73. Snap Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $17.90.

Insider Buying and Selling

In other Snap news, CFO Derek Andersen sold 26,682 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $15.72, for a total value of $419,441.04. Following the completion of the sale, the chief financial officer now owns 2,508,007 shares in the company, valued at approximately $39,425,870.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snap news, CFO Derek Andersen sold 26,682 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $15.72, for a total value of $419,441.04. Following the completion of the sale, the chief financial officer now owns 2,508,007 shares in the company, valued at approximately $39,425,870.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 8,913 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $15.91, for a total transaction of $141,805.83. Following the completion of the transaction, the chief accounting officer now directly owns 483,743 shares in the company, valued at approximately $7,696,351.13. The disclosure for this sale can be found here. Insiders sold 225,078 shares of company stock worth $3,518,129 in the last quarter. 22.68% of the stock is owned by corporate insiders.

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.