Snap Inc. (NYSE:SNAP) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its stake in shares of Snap Inc. (NYSE:SNAP) by 52.6% during the fourth quarter, Holdings Channel reports. The fund owned 44,602 shares of the company’s stock after purchasing an additional 15,375 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Snap were worth $480,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in Snap in the 4th quarter worth about $32,000. Brooklyn Investment Group acquired a new stake in Snap in the 3rd quarter worth about $41,000. Blue Trust Inc. boosted its stake in Snap by 128.0% in the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after buying an additional 2,453 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Snap in the 3rd quarter worth about $81,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analysts Set New Price Targets

SNAP has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price target on shares of Snap in a research note on Wednesday, October 30th. Truist Financial raised their price objective on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, UBS Group raised their price objective on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.87.

Snap Stock Performance

Shares of NYSE:SNAP opened at $10.43 on Tuesday. Snap Inc. has a one year low of $8.29 and a one year high of $17.33. The business’s 50-day simple moving average is $11.17 and its 200 day simple moving average is $10.78. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The company has a market cap of $17.68 billion, a P/E ratio of -24.82 and a beta of 0.99.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other news, SVP Eric Young sold 102,152 shares of Snap 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 $1,107,327.68. Following the completion of the transaction, the senior vice president now owns 3,443,419 shares in the company, valued at approximately $37,326,661.96. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 2,812 shares of Snap stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $32,169.28. Following the completion of the transaction, the chief accounting officer now owns 430,252 shares of the company’s stock, valued at approximately $4,922,082.88. The trade was a 0.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 499,471 shares of company stock worth $5,608,926 in the last 90 days. 22.68% of the stock is owned by corporate insiders.

Snap Company 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.