Grant Private Wealth Management Inc Takes Position in Snap Inc. (NYSE:SNAP)

Grant Private Wealth Management Inc bought a new position in Snap Inc. (NYSE:SNAP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 30,626 shares of the company’s stock, valued at approximately $330,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Invenomic Capital Management LP bought a new position in shares of Snap in the 3rd quarter worth approximately $2,349,000. Charles Schwab Investment Management Inc. grew its position in shares of Snap by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock valued at $71,095,000 after purchasing an additional 389,812 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Snap by 49.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock valued at $28,245,000 after buying an additional 879,212 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Snap in the fourth quarter worth $289,000. Finally, Holocene Advisors LP purchased a new stake in shares of Snap during the 3rd quarter valued at about $3,436,000. Institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 8,837 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the transaction, the chief accounting officer now owns 429,892 shares of the company’s stock, valued at approximately $4,660,029.28. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Eric Young sold 102,152 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $1,107,327.68. Following the completion of the sale, the senior vice president now directly owns 3,443,419 shares of the company’s stock, valued at $37,326,661.96. This trade represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,356,523 shares of company stock worth $12,710,077. Corporate insiders own 22.68% of the company’s stock.

Snap Price Performance

Shares of Snap stock opened at $8.86 on Thursday. The firm has a market cap of $15.03 billion, a PE ratio of -21.09 and a beta of 0.92. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The business has a 50-day moving average price of $10.06 and a 200 day moving average price of $10.80.

Snap (NYSE:SNAP) last announced 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%. Sell-side analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Wells Fargo & Company lowered their target price on Snap from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday. Bank of America increased their price objective on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Susquehanna lifted their target price on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Snap has an average rating of “Hold” and an average price target of $36.80.

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.