Snap Inc. (NYSE:SNAP) Stake Reduced by Kovack Advisors Inc.

Kovack Advisors Inc. cut its holdings in Snap Inc. (NYSE:SNAP) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,695 shares of the company’s stock after selling 1,300 shares during the quarter. Kovack Advisors Inc.’s holdings in Snap were worth $341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Checchi Capital Advisers LLC raised its position in Snap by 3.0% in the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock worth $335,000 after acquiring an additional 901 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Snap during the 4th quarter worth about $7,614,000. Bank of New York Mellon Corp raised its holdings in Snap by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company’s stock worth $16,565,000 after buying an additional 29,526 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Snap by 4.5% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 258,442 shares of the company’s stock worth $2,783,000 after buying an additional 11,100 shares during the period. Finally, Zullo Investment Group Inc. acquired a new stake in Snap during the 4th quarter worth about $115,000. 47.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Derek Andersen sold 61,334 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $664,860.56. Following the completion of the sale, the chief financial officer now directly owns 3,564,235 shares of the company’s stock, valued at approximately $38,636,307.40. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 32,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $12.42, for a total value of $397,440.00. Following the completion of the sale, the chief accounting officer now directly owns 433,064 shares of the company’s stock, valued at $5,378,654.88. This represents a 6.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 481,471 shares of company stock valued at $5,394,906 over the last 90 days. 22.68% of the stock is currently owned by company insiders.

Snap Stock Up 2.7 %

Shares of Snap stock opened at $10.26 on Friday. The stock has a market capitalization of $17.40 billion, a P/E ratio of -24.42 and a beta of 0.99. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a 50 day moving average price of $11.09 and a two-hundred day moving average price of $10.79. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.33.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Equities analysts expect that Snap Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on SNAP. Guggenheim downgraded Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. Bank of America boosted their price objective on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. JMP Securities restated a “market outperform” rating and set a $16.00 price objective on shares of Snap in a report on Monday, January 27th. Finally, Susquehanna upped their target price on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.87.

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.