Moloney Securities Asset Management LLC Purchases New Position in Snap Inc. (NYSE:SNAP)

Moloney Securities Asset Management LLC purchased a new position in shares of Snap Inc. (NYSE:SNAP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,300 shares of the company’s stock, valued at approximately $186,000.

A number of other institutional investors have also added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in shares of Snap during the 3rd quarter worth approximately $29,000. Paladin Wealth LLC acquired a new stake in shares of Snap during the third quarter worth about $30,000. Advisors Asset Management Inc. boosted its holdings in shares of Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after acquiring an additional 1,632 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Snap during the 3rd quarter worth about $41,000. Finally, Blue Trust Inc. grew its holdings in Snap by 136.3% during the fourth quarter. Blue Trust Inc. now owns 4,529 shares of the company’s stock worth $48,000 after acquiring an additional 2,612 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling at Snap

In other Snap news, CFO Derek Andersen sold 94,164 shares of Snap stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the sale, the chief financial officer now owns 2,193,806 shares in the company, valued at $25,097,140.64. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rebecca Morrow sold 32,000 shares of the stock in a transaction on 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 owns 433,064 shares of the company’s stock, valued at approximately $5,378,654.88. This represents a 6.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 443,518 shares of company stock worth $4,947,981 in the last ninety days. 22.68% of the stock is owned by insiders.

Snap Stock Performance

NYSE SNAP opened at $10.90 on Wednesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 4.04 and a current ratio of 3.95. The stock’s fifty day moving average is $11.40 and its two-hundred day moving average is $10.78. The firm has a market capitalization of $18.27 billion, a P/E ratio of -25.94 and a beta of 0.99. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share 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, research analysts anticipate that Snap Inc. will post -0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on SNAP. Benchmark restated a “hold” rating on shares of Snap in a research report on Friday, October 25th. JMP Securities restated a “market outperform” rating and set a $16.00 price target on shares of Snap in a research report on Monday, January 27th. Cantor Fitzgerald lifted their price objective on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler reissued a “neutral” rating and set a $13.00 target price (up from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group lifted their price target on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Snap currently has a consensus rating of “Hold” and an average target price of $36.87.

Snap Company 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.