OneDigital Investment Advisors LLC Purchases New Position in Snap Inc. (NYSE:SNAP)

OneDigital Investment Advisors LLC purchased a new position in shares of Snap Inc. (NYSE:SNAP) during the third quarter, Holdings Channel reports. The firm purchased 11,411 shares of the company’s stock, valued at approximately $122,000.

Several other institutional investors also recently bought and sold shares of SNAP. Hollencrest Capital Management acquired a new position in shares of Snap during the 2nd quarter worth approximately $33,000. Blue Trust Inc. increased its holdings in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares in the last quarter. Rothschild Investment LLC acquired a new position in Snap during the second quarter worth $40,000. V Square Quantitative Management LLC purchased a new position in Snap during the third quarter valued at $29,000. Finally, Paladin Wealth LLC acquired a new stake in shares of Snap in the third quarter valued at about $30,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNAP has been the subject of several research analyst reports. Hsbc Global Res downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $14.00 target price on shares of Snap in a report on Wednesday, September 18th. Citigroup dropped their price target on Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Stifel Nicolaus reduced their price objective on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lifted their target price on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap has a consensus rating of “Hold” and an average price target of $14.31.

Snap Stock Up 7.4 %

Shares of SNAP opened at $11.42 on Friday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The firm has a market cap of $19.15 billion, a P/E ratio of -19.69 and a beta of 0.99. The company’s 50-day moving average price is $10.85 and its 200 day moving average price is $12.50. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.21) EPS. On average, sell-side analysts forecast that Snap Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $9.30, for a total transaction of $167,400.00. Following the sale, the general counsel now directly owns 456,662 shares in the company, valued at $4,246,956.60. This represents a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Young sold 50,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $10.54, for a total transaction of $527,000.00. Following the sale, the senior vice president now directly owns 752,110 shares in the company, valued at $7,927,239.40. This represents a 6.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,406,709 shares of company stock valued at $16,615,487 over the last quarter. 22.68% of the stock is owned by company insiders.

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.