MML Investors Services LLC Purchases 1,614 Shares of Snap Inc. (NYSE:SNAP)

MML Investors Services LLC increased its position in Snap Inc. (NYSE:SNAP) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,245 shares of the company’s stock after buying an additional 1,614 shares during the quarter. MML Investors Services LLC’s holdings in Snap were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Portfolio Solutions LLC purchased a new position in shares of Snap during the third quarter worth approximately $149,000. EP Wealth Advisors LLC raised its position in Snap by 15.2% in the 3rd quarter. EP Wealth Advisors LLC now owns 48,713 shares of the company’s stock worth $521,000 after purchasing an additional 6,413 shares during the period. SYM FINANCIAL Corp bought a new stake in Snap in the third quarter worth $168,000. Quantinno Capital Management LP boosted its position in Snap by 51.5% during the third quarter. Quantinno Capital Management LP now owns 87,685 shares of the company’s stock valued at $938,000 after buying an additional 29,806 shares during the period. Finally, Prentice Capital Management LP grew its stake in shares of Snap by 53.1% during the third quarter. Prentice Capital Management LP now owns 576,834 shares of the company’s stock valued at $6,172,000 after buying an additional 200,000 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

SNAP has been the subject of a number of recent research reports. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price (up previously from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 price objective on shares of Snap in a research note on Wednesday, October 30th. Citigroup lifted their target price on shares of Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Snap in a research report on Thursday, December 5th. Finally, Benchmark restated a “hold” rating on shares of Snap in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.10.

Snap Stock Down 0.7 %

SNAP stock opened at $11.18 on Thursday. The business has a 50 day moving average of $11.41 and a 200 day moving average of $11.85. The firm has a market cap of $18.75 billion, a PE ratio of -19.28 and a beta of 0.97. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.75. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last issued 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. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned ($0.21) earnings per share. The company’s revenue was up 15.4% on a year-over-year basis. On average, research analysts forecast that Snap Inc. will post -0.4 EPS for the current fiscal year.

Insider Transactions at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 12,315 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.54, for a total value of $129,800.10. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 94,164 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the sale, the chief financial officer now directly owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,451,618 shares of company stock worth $17,559,617. Corporate insiders own 22.68% of the company’s stock.

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.