Virtu Financial LLC Makes New $765,000 Investment in Snap Inc. (NYSE:SNAP)

Virtu Financial LLC bought a new position in Snap Inc. (NYSE:SNAP) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 71,007 shares of the company’s stock, valued at approximately $765,000.

Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. increased its position in Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Snap during the 4th quarter worth approximately $32,000. Brooklyn Investment Group purchased a new stake in shares of Snap during the 3rd quarter valued at approximately $41,000. Blue Trust Inc. lifted its holdings in Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock valued at $47,000 after acquiring an additional 2,453 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new position in Snap in the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Stock Performance

NYSE:SNAP opened at $9.53 on Tuesday. The firm has a market capitalization of $16.16 billion, a PE ratio of -22.68 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The business’s fifty day moving average price is $10.33 and its 200 day moving average price is $10.81. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, sell-side analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SNAP shares. BMO Capital Markets reissued an “outperform” rating and set a $16.00 target price (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Barclays reissued an “overweight” rating on shares of Snap in a research report on Wednesday, February 5th. Bank of America upped their target price on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Guggenheim cut shares of Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap currently has an average rating of “Hold” and a consensus price target of $36.87.

Insider Activity

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total value of $9,040,000.00. Following the completion of the transaction, the chief technology officer now owns 55,818,548 shares in the company, valued at $504,599,673.92. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $11.49, for a total transaction of $206,820.00. Following the completion of the sale, the general counsel now owns 480,498 shares in the company, valued at $5,520,922.02. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,350,523 shares of company stock valued at $12,698,797. Company insiders own 22.68% of the company’s stock.

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.