RDA Financial Network Buys New Holdings in Snap Inc. (NYSE:SNAP)

RDA Financial Network purchased a new position in shares of Snap Inc. (NYSE:SNAPFree Report) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 11,452 shares of the company’s stock, valued at approximately $123,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNAP. Charles Schwab Investment Management Inc. lifted its holdings in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares during the period. TB Alternative Assets Ltd. raised its position in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after purchasing an additional 4,098,847 shares in the last quarter. Aigen Investment Management LP bought a new position in Snap during the third quarter worth about $1,345,000. Invenomic Capital Management LP acquired a new stake in Snap during the third quarter valued at approximately $2,349,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in shares of Snap in the 3rd quarter valued at approximately $832,000. Institutional investors own 47.52% of the company’s stock.

Snap Stock Down 3.2 %

Shares of NYSE SNAP opened at $10.86 on Friday. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.50. The firm’s 50-day moving average is $11.53 and its 200-day moving average is $11.36. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $18.21 billion, a PE ratio of -18.72 and a beta of 0.98.

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

Analysts Set New Price Targets

Several equities analysts recently commented on SNAP shares. Loop Capital raised their target price on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group lifted their price objective on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Stifel Nicolaus reduced their target price on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Evercore ISI increased their target price on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Citigroup lifted their price target on shares of Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.99.

Get Our Latest Stock Analysis on SNAP

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total value of $195,120.00. Following the sale, the general counsel now directly owns 498,498 shares in the company, valued at approximately $5,403,718.32. This trade represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 2,812 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 430,252 shares of the company’s stock, valued at $4,922,082.88. This trade represents a 0.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,451,618 shares of company stock valued at $17,560,157 over the last three months. Company insiders own 22.68% of the company’s stock.

About Snap

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding SNAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap Inc. (NYSE:SNAPFree Report).

Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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