Snap Inc. (NYSE:SNAP) Holdings Decreased by Atomi Financial Group Inc.

Atomi Financial Group Inc. reduced its stake in shares of Snap Inc. (NYSE:SNAP) by 15.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,277 shares of the company’s stock after selling 4,121 shares during the period. Atomi Financial Group Inc.’s holdings in Snap were worth $251,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares in the last quarter. TB Alternative Assets Ltd. raised its position in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after acquiring an additional 4,098,847 shares in the last quarter. Aigen Investment Management LP bought a new stake in Snap in the third quarter worth about $1,345,000. Invenomic Capital Management LP bought a new stake in Snap in the third quarter worth about $2,349,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in Snap in the third quarter worth about $832,000. 47.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Snap news, Director Joanna Coles sold 6,434 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the sale, the director now owns 54,761 shares of the company’s stock, valued at $657,132. This represents a 10.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total value of $195,120.00. Following the sale, the general counsel now directly owns 498,498 shares of the company’s stock, valued at $5,403,718.32. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,451,618 shares of company stock valued at $17,560,157 over the last 90 days. 22.68% of the stock is currently owned by company insiders.

Snap Trading Up 3.0 %

NYSE:SNAP opened at $10.90 on Monday. The stock’s 50 day moving average price is $11.48 and its 200 day moving average price is $11.10. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.50. The company has a market capitalization of $18.27 billion, a P/E ratio of -18.78 and a beta of 0.98. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.21) earnings per share. On average, research analysts forecast that Snap Inc. will post -0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SNAP. Evercore ISI boosted their price target on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Stifel Nicolaus dropped their price target on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Citigroup boosted their price objective on Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Benchmark restated a “hold” rating on shares of Snap in a report on Friday, October 25th. Finally, Cantor Fitzgerald boosted their price objective on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $36.99.

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.