Certuity LLC Invests $203,000 in Snap Inc. (NYSE:SNAP)

Certuity LLC purchased a new stake in shares of Snap Inc. (NYSE:SNAP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,981 shares of the company’s stock, valued at approximately $203,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Snap by 1.5% during the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock valued at $818,067,000 after acquiring an additional 1,352,655 shares during the period. Jump Financial LLC lifted its stake in Snap by 565.4% in the third quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock valued at $2,343,000 after buying an additional 223,432 shares during the period. Allworth Financial LP lifted its stake in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after buying an additional 1,708 shares during the period. Illinois Municipal Retirement Fund acquired a new position in Snap in the third quarter valued at about $423,000. Finally, Korea Investment CORP lifted its stake in Snap by 191.7% in the third quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock valued at $3,703,000 after buying an additional 273,156 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNAP. Wells Fargo & Company increased their target price on Snap from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Stifel Nicolaus increased their target price on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Raymond James reissued an “outperform” rating and issued a $16.00 target price (up previously from $15.00) on shares of Snap in a research note on Friday, April 26th. UBS Group cut their target price on Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Finally, HSBC raised Snap from a “reduce” rating to a “buy” rating in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and an average price target of $14.79.

Snap Stock Up 2.8 %

SNAP stock opened at $16.30 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 3.76. The business has a 50 day moving average price of $11.62 and a two-hundred day moving average price of $13.02. Snap Inc. has a twelve month low of $7.86 and a twelve month high of $17.90.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. On average, sell-side analysts predict that Snap Inc. will post -0.46 EPS for the current year.

Insider Buying and Selling at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $15.10, for a total value of $271,800.00. Following the completion of the sale, the general counsel now directly owns 456,812 shares of the company’s stock, valued at $6,897,861.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Eric Young sold 120,472 shares of Snap stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the completion of the sale, the senior vice president now directly owns 3,540,852 shares of the company’s stock, valued at approximately $39,409,682.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $15.10, for a total value of $271,800.00. Following the sale, the general counsel now directly owns 456,812 shares of the company’s stock, valued at $6,897,861.20. The disclosure for this sale can be found here. Insiders sold a total of 1,625,482 shares of company stock worth $21,768,311 over the last ninety days. 22.68% of the stock is currently owned by corporate 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.