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

RDA Financial Network purchased a new position in shares of Snap Inc. (NYSE:SNAP) 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:SNAP) 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.

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

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.