Trek Financial LLC Makes New $4.74 Million Investment in Snap Inc. $SNAP

Trek Financial LLC bought a new stake in Snap Inc. (NYSE:SNAP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 545,946 shares of the company’s stock, valued at approximately $4,744,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Signaturefd LLC grew its stake in Snap by 169.9% during the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock valued at $26,000 after acquiring an additional 1,852 shares in the last quarter. Quarry LP purchased a new position in Snap in the 1st quarter worth approximately $34,000. Itau Unibanco Holding S.A. acquired a new position in shares of Snap during the 1st quarter worth approximately $35,000. Wealth Preservation Advisors LLC acquired a new position in shares of Snap during the 1st quarter worth approximately $44,000. Finally, S Bank Fund Management Ltd purchased a new stake in shares of Snap in the first quarter valued at approximately $53,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Rosenblatt Securities lifted their price objective on Snap from $8.70 to $9.50 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Cantor Fitzgerald raised their target price on Snap from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Zacks Research lowered Snap from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Citizens Jmp reissued a “market perform” rating on shares of Snap in a research report on Wednesday, August 6th. Finally, UBS Group lifted their target price on shares of Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.06.

Insider Activity

In other news, CAO Rebecca Morrow sold 12,699 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.34, for a total transaction of $105,909.66. Following the sale, the chief accounting officer owned 466,603 shares of the company’s stock, valued at approximately $3,891,469.02. This represents a 2.65% 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 the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Friday, November 7th. The shares were sold at an average price of $8.00, for a total value of $8,000,000.00. Following the completion of the transaction, the chief technology officer owned 51,911,126 shares of the company’s stock, valued at approximately $415,289,008. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,426,728 shares of company stock worth $11,458,580 over the last 90 days.

Snap Price Performance

SNAP stock opened at $7.61 on Wednesday. The business’s fifty day moving average price is $7.99 and its 200 day moving average price is $8.20. Snap Inc. has a 12-month low of $6.90 and a 12-month high of $13.28. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $13.08 billion, a PE ratio of -26.23 and a beta of 0.85.

Snap (NYSE:SNAP) last released its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.49 billion. Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) earnings per share. On average, sell-side analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

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.