Empirical Financial Services LLC d.b.a. Empirical Wealth Management Cuts Holdings in Snap Inc. $SNAP

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its stake in Snap Inc. (NYSE:SNAP) by 12.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,880 shares of the company’s stock after selling 31,066 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Snap were worth $1,911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC purchased a new position in Snap in the first quarter worth $122,000. NBC Securities Inc. boosted its holdings in shares of Snap by 154,650.0% in the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company’s stock worth $26,000 after purchasing an additional 3,093 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Snap by 12.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 26,841 shares of the company’s stock worth $234,000 after purchasing an additional 2,918 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Snap by 19.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company’s stock worth $184,000 after purchasing an additional 2,792 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Snap by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company’s stock worth $953,601,000 after purchasing an additional 6,921,841 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Derek Andersen sold 60,966 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $7.17, for a total value of $437,126.22. Following the completion of the transaction, the chief financial officer owned 3,143,452 shares in the company, valued at $22,538,550.84. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $7.80, for a total value of $7,800,000.00. Following the completion of the transaction, the chief technology officer owned 53,215,224 shares of the company’s stock, valued at $415,078,747.20. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,510,532 shares of company stock valued at $11,629,869 in the last quarter. Insiders own 22.68% of the company’s stock.

Snap Price Performance

SNAP opened at $8.52 on Friday. The stock has a 50-day moving average price of $7.80 and a 200-day moving average price of $8.34. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88. The firm has a market cap of $14.40 billion, a PE ratio of -26.63 and a beta of 0.71. Snap Inc. has a 1 year low of $6.90 and a 1 year high of $13.28.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. Snap had a negative net margin of 9.69% and a negative return on equity of 23.32%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. Snap has set its Q3 2025 guidance at EPS. Sell-side analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SNAP shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Snap in a research note on Wednesday, August 6th. Piper Sandler cut their price objective on shares of Snap from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Guggenheim restated a “neutral” rating and set a $8.00 price target on shares of Snap in a research report on Friday, September 12th. UBS Group cut their price target on shares of Snap from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Finally, Citizens Jmp restated a “market perform” rating on shares of Snap in a research report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $34.77.

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.