Gradient Investments LLC Boosts Stock Holdings in Snap Inc. (NYSE:SNAP)

Gradient Investments LLC boosted its position in Snap Inc. (NYSE:SNAP) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 142,144 shares of the company’s stock after buying an additional 1,310 shares during the quarter. Gradient Investments LLC’s holdings in Snap were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SNAP. V Square Quantitative Management LLC purchased a new position in Snap in the 3rd quarter valued at approximately $29,000. Paladin Wealth LLC bought a new position in shares of Snap in the third quarter worth $30,000. Advisors Asset Management Inc. grew its position in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Snap during the 3rd quarter valued at $41,000. Finally, Quest Partners LLC purchased a new stake in Snap during the 3rd quarter worth about $81,000. 47.52% of the stock is currently owned by institutional investors.

Snap Price Performance

Shares of Snap stock opened at $10.90 on Friday. The company’s fifty day simple moving average is $11.48 and its two-hundred day simple moving average is $11.14. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.50. The firm has a market cap of $18.27 billion, a PE ratio of -18.78 and a beta of 0.98. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. Snap’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the firm earned ($0.21) earnings per share. As a group, equities analysts expect that Snap Inc. will post -0.39 EPS for the current year.

Analyst Ratings Changes

SNAP has been the topic of several analyst reports. Truist Financial upped their price target on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 target price (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price target on shares of Snap in a research report on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price target (up previously from $12.00) on shares of Snap in a report on Wednesday, October 30th. Finally, Benchmark restated a “hold” rating on shares of Snap in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.99.

Insider Activity at Snap

In other Snap news, CFO Derek Andersen sold 17,789 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $12.00, for a total transaction of $213,468.00. Following the transaction, the chief financial officer now owns 2,176,017 shares in the company, valued at approximately $26,112,204. This represents a 0.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.54, for a total value of $129,800.10. Following the completion of the transaction, the general counsel now directly owns 1,195,567 shares of the company’s stock, valued at $12,601,276.18. This represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,451,618 shares of company stock worth $17,560,157 over the last quarter. 22.68% of the stock is owned by corporate insiders.

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.