Simon Quick Advisors LLC Takes $100,000 Position in Snap Inc. $SNAP

Simon Quick Advisors LLC purchased a new stake in shares of Snap Inc. (NYSE:SNAP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,453 shares of the company’s stock, valued at approximately $100,000.

Other large investors have also recently modified their holdings of the company. DMC Group LLC raised its stake in Snap by 7.2% during the first quarter. DMC Group LLC now owns 19,547 shares of the company’s stock worth $170,000 after buying an additional 1,313 shares during the last quarter. Apollon Wealth Management LLC raised its stake in Snap by 9.2% during the second quarter. Apollon Wealth Management LLC now owns 15,934 shares of the company’s stock worth $138,000 after buying an additional 1,340 shares during the last quarter. Zullo Investment Group Inc. raised its stake in Snap by 12.8% during the second quarter. Zullo Investment Group Inc. now owns 12,040 shares of the company’s stock worth $105,000 after buying an additional 1,365 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Snap by 2.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 70,608 shares of the company’s stock worth $614,000 after buying an additional 1,743 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in Snap by 5.7% during the first quarter. SBI Securities Co. Ltd. now owns 32,439 shares of the company’s stock worth $283,000 after buying an additional 1,755 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling at Snap

In other news, insider Ajit Mohan sold 28,238 shares of the business’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $7.83, for a total transaction of $221,103.54. Following the completion of the sale, the insider directly owned 5,436,173 shares of the company’s stock, valued at $42,565,234.59. The trade was a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Derek Andersen sold 33,871 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $7.56, for a total transaction of $256,064.76. Following the sale, the chief financial officer directly owned 3,109,581 shares of the company’s stock, valued at approximately $23,508,432.36. The trade was a 1.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,510,569 shares of company stock valued at $11,541,723.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Zacks Research downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Guggenheim reissued a “neutral” rating and set a $8.00 target price on shares of Snap in a research note on Friday, September 12th. JMP Securities reissued a “market perform” rating on shares of Snap in a research note on Wednesday, August 6th. Mizuho initiated coverage on shares of Snap in a research note on Monday, September 29th. They issued a “neutral” rating and a $9.00 price target for the company. Finally, Stifel Nicolaus downgraded shares of Snap from a “hold” rating to a “sell” rating and decreased their price target for the company from $8.00 to $6.50 in a research note on Friday, October 24th. Four investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Snap presently has an average rating of “Hold” and an average target price of $34.57.

Snap Trading Down 4.6%

NYSE:SNAP opened at $7.46 on Wednesday. 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 50-day moving average of $7.79 and a 200-day moving average of $8.26. The company has a market cap of $12.61 billion, a PE ratio of -23.32 and a beta of 0.89. Snap Inc. has a one year low of $6.90 and a one year high of $13.28.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). The company had revenue of $1.34 billion during 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 firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) earnings per share. As a group, equities research analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Snap 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.