AssuredPartners Investment Advisors LLC Makes New $224,000 Investment in Snap Inc. (NYSE:SNAP)

AssuredPartners Investment Advisors LLC purchased a new stake in shares of Snap Inc. (NYSE:SNAP) in the fourth quarter, HoldingsChannel reports. The firm purchased 20,822 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after acquiring an additional 2,386,519 shares during the period. Invenomic Capital Management LP purchased a new position in shares of Snap in the third quarter valued at approximately $2,349,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Snap by 49.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock valued at $28,245,000 after purchasing an additional 879,212 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Snap in the fourth quarter valued at approximately $289,000. Finally, Holocene Advisors LP acquired a new stake in Snap during the 3rd quarter worth approximately $3,436,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Price Performance

Shares of NYSE:SNAP opened at $8.88 on Friday. Snap Inc. has a one year low of $8.29 and a one year high of $17.33. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of -21.13 and a beta of 0.92. The company has a 50-day simple moving average of $10.16 and a 200-day simple moving average of $10.79. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 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%. On average, analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on SNAP. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Snap in a research note on Thursday, December 5th. Guggenheim cut Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. Citigroup increased their price target on Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. JMP Securities reissued a “market outperform” rating and set a $16.00 price objective on shares of Snap in a research report on Monday, January 27th. Finally, Barclays reaffirmed an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and an average target price of $36.87.

Insider Transactions at Snap

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the transaction, the general counsel now directly owns 498,498 shares of the company’s stock, valued at $5,403,718.32. This represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the sale, the chief technology officer now owns 55,818,548 shares of the company’s stock, valued at approximately $504,599,673.92. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,350,523 shares of company stock worth $12,698,797 over the last 90 days. 22.68% of the stock is currently owned by insiders.

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.