Patriot Financial Group Insurance Agency LLC Buys Shares of 26,806 Snap Inc. (NYSE:SNAP)

Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Snap Inc. (NYSE:SNAP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 26,806 shares of the company’s stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. HCR Wealth Advisors increased its stake in Snap by 3.9% in the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock valued at $269,000 after buying an additional 934 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Snap by 6.9% in the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after acquiring an additional 1,255 shares in the last quarter. Gradient Investments LLC increased its position in shares of Snap by 0.9% in the fourth quarter. Gradient Investments LLC now owns 142,144 shares of the company’s stock valued at $1,531,000 after acquiring an additional 1,310 shares during the last quarter. Intech Investment Management LLC raised its holdings in Snap by 1.9% during the third quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock worth $830,000 after acquiring an additional 1,433 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in Snap by 7.7% during the fourth quarter. HB Wealth Management LLC now owns 21,187 shares of the company’s stock valued at $228,000 after purchasing an additional 1,513 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNAP. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 price target (up previously from $12.00) on shares of Snap in a research report on Wednesday, October 30th. Loop Capital boosted their target price on shares of Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their price target on shares of Snap from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Truist Financial lifted their price objective on shares of Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus dropped their target price on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Snap has an average rating of “Hold” and a consensus target price of $36.99.

Snap Price Performance

Shares of NYSE SNAP opened at $11.62 on Thursday. The business has a fifty day moving average price of $11.52 and a two-hundred day moving average price of $11.03. The stock has a market capitalization of $19.48 billion, a PE ratio of -20.03 and a beta of 0.98. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. 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 results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. Snap’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. As a group, equities analysts predict that Snap Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 12,315 shares of Snap stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.54, for a total value of $129,800.10. Following the transaction, the general counsel now owns 1,195,567 shares in the company, valued at $12,601,276.18. The trade was a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Rebecca Morrow sold 32,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $12.42, for a total value of $397,440.00. Following the transaction, the chief accounting officer now directly owns 433,064 shares of the company’s stock, valued at approximately $5,378,654.88. The trade was a 6.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 427,184 shares of company stock valued at $4,761,369 in the last ninety days. 22.68% of the stock is currently owned by company 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.