Snap Inc. (NYSE:SNAP) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. lifted its stake in shares of Snap Inc. (NYSE:SNAP) by 29.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,085 shares of the company’s stock after acquiring an additional 7,900 shares during the period. Kovack Advisors Inc.’s holdings in Snap were worth $403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNAP. Vanguard Personalized Indexing Management LLC lifted its holdings in Snap by 12.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock valued at $683,000 after purchasing an additional 4,307 shares in the last quarter. Carmignac Gestion purchased a new position in shares of Snap during the fourth quarter valued at approximately $110,103,000. TCW Group Inc. acquired a new stake in Snap during the fourth quarter worth approximately $275,000. V Square Quantitative Management LLC grew its stake in Snap by 72.7% in the 4th quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after acquiring an additional 4,679 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Snap by 1.5% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Trading Down 3.1 %

Shares of NYSE SNAP opened at $15.75 on Friday. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. Snap Inc. has a 1-year low of $8.28 and a 1-year high of $17.90. The business has a 50-day moving average of $15.76 and a 200-day moving average of $14.18.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. As a group, equities analysts anticipate that Snap Inc. will post -0.43 EPS for the current year.

Analyst Ratings Changes

SNAP has been the subject of a number of recent analyst reports. Evercore ISI lifted their price objective on Snap from $13.00 to $14.00 and gave the company an “in-line” rating in a research report on Friday, April 26th. Roth Mkm restated a “neutral” rating and issued a $14.00 price target on shares of Snap in a report on Tuesday, April 23rd. Rosenblatt Securities upped their price objective on shares of Snap from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Canaccord Genuity Group increased their price objective on shares of Snap from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Finally, UBS Group lowered their target price on shares of Snap from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Snap currently has an average rating of “Hold” and an average price target of $14.82.

Insider Activity

In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Monday, April 29th. The shares were sold at an average price of $14.27, for a total transaction of $14,270,000.00. Following the sale, the chief technology officer now owns 59,894,865 shares of the company’s stock, valued at approximately $854,699,723.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Snap news, Director Joanna Coles sold 3,950 shares of Snap stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $15.17, for a total transaction of $59,921.50. Following the sale, the director now directly owns 46,492 shares in the company, valued at approximately $705,283.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $14.27, for a total value of $14,270,000.00. Following the transaction, the chief technology officer now owns 59,894,865 shares of the company’s stock, valued at $854,699,723.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,372,583 shares of company stock worth $19,934,275.

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.