Profund Advisors LLC raised its position in shares of Snap Inc (NYSE:SNAP) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 154,817 shares of the company’s stock after purchasing an additional 13,673 shares during the period. Profund Advisors LLC’s holdings in Snap were worth $2,262,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its stake in Snap by 967.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,005 shares of the company’s stock worth $116,000 after buying an additional 7,255 shares during the last quarter. Aperio Group LLC purchased a new stake in Snap during the 4th quarter valued at about $149,000. First Allied Advisory Services Inc. purchased a new stake in Snap during the 4th quarter valued at about $152,000. Stratos Wealth Partners LTD. purchased a new stake in Snap during the 3rd quarter valued at about $206,000. Finally, Alps Advisors Inc. purchased a new stake in Snap during the 4th quarter valued at about $207,000. 18.56% of the stock is owned by institutional investors and hedge funds.
In other Snap news, Director Mitchell Lasky sold 25,000 shares of Snap stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $17.60, for a total value of $440,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael Lynton sold 29,000 shares of Snap stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $17.45, for a total value of $506,050.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,732,866 shares of company stock worth $104,531,069.
Snap Inc (NYSE:SNAP) traded down $0.19 on Friday, hitting $17.01. The stock had a trading volume of 22,275,102 shares, compared to its average volume of 25,514,820. Snap Inc has a twelve month low of $11.28 and a twelve month high of $24.40. The firm has a market capitalization of $21,104.97 and a PE ratio of -5.14.
Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.06. Snap had a negative return on equity of 100.64% and a negative net margin of 417.61%. The firm had revenue of $285.69 million for the quarter, compared to analyst estimates of $251.74 million. equities research analysts predict that Snap Inc will post -1.17 earnings per share for the current year.
A number of analysts have recently commented on the company. JMP Securities downgraded Snap from an “outperform” rating to a “market perform” rating in a research note on Sunday, November 26th. Wells Fargo restated a “hold” rating on shares of Snap in a research note on Wednesday, November 29th. Deutsche Bank restated a “hold” rating and issued a $11.00 target price on shares of Snap in a research note on Thursday, November 30th. Barclays raised Snap from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $11.00 to $18.00 in a report on Tuesday, December 5th. Finally, Evercore ISI began coverage on Snap in a report on Tuesday, December 5th. They issued an “underperform” rating and a $7.00 price target for the company. Fifteen analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $18.06.
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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