Captrust Financial Advisors Invests $138,000 in Snap Inc. (NYSE:SNAP)

Captrust Financial Advisors acquired a new position in shares of Snap Inc. (NYSE:SNAP) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,888 shares of the company’s stock, valued at approximately $138,000.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after buying an additional 2,386,519 shares during the period. TB Alternative Assets Ltd. boosted its stake in shares of Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after buying an additional 4,098,847 shares during the period. Aigen Investment Management LP bought a new stake in shares of Snap in the third quarter valued at approximately $1,345,000. Dynamic Advisor Solutions LLC bought a new stake in shares of Snap in the third quarter valued at approximately $832,000. Finally, Entropy Technologies LP bought a new stake in shares of Snap in the third quarter valued at approximately $828,000. Institutional investors own 47.52% of the company’s stock.

Snap Price Performance

Shares of NYSE SNAP opened at $11.34 on Tuesday. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of -19.55 and a beta of 0.97. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The firm’s 50-day simple moving average is $11.37 and its 200 day simple moving average is $12.02.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.21) EPS. As a group, research analysts anticipate that Snap Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the completion of the sale, the chief technology officer now owns 57,210,989 shares in the company, valued at $715,137,362.50. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.54, for a total transaction of $129,800.10. Following the sale, the general counsel now owns 1,195,567 shares of the company’s stock, valued at approximately $12,601,276.18. The trade was a 1.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,279,892 shares of company stock worth $15,585,110. Insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

SNAP has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $14.00 target price on shares of Snap in a research note on Wednesday, September 18th. The Goldman Sachs Group upped their target price on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Snap in a research note on Thursday, December 5th. Canaccord Genuity Group upped their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their price target on shares of Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 4th. One equities 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $37.10.

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.