PFG Investments LLC Sells 13,869 Shares of Snap Inc. (NYSE:SNAP)

PFG Investments LLC lowered its stake in Snap Inc. (NYSE:SNAP) by 28.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,402 shares of the company’s stock after selling 13,869 shares during the quarter. PFG Investments LLC’s holdings in Snap were worth $381,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in Snap by 16.4% in the second quarter. The Manufacturers Life Insurance Company now owns 65,276 shares of the company’s stock valued at $1,084,000 after purchasing an additional 9,185 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Snap by 5.9% in the 2nd quarter. Mackenzie Financial Corp now owns 156,838 shares of the company’s stock valued at $2,605,000 after buying an additional 8,714 shares during the period. EP Wealth Advisors LLC increased its position in Snap by 8.5% in the 2nd quarter. EP Wealth Advisors LLC now owns 42,300 shares of the company’s stock valued at $703,000 after buying an additional 3,327 shares in the last quarter. Cetera Investment Advisers raised its stake in Snap by 23.7% during the 2nd quarter. Cetera Investment Advisers now owns 104,470 shares of the company’s stock worth $1,735,000 after buying an additional 20,038 shares during the period. Finally, Brown Financial Advisors bought a new position in Snap in the second quarter worth approximately $370,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SNAP shares. Cantor Fitzgerald boosted their price objective on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. UBS Group lifted their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Guggenheim restated a “buy” rating and issued a $12.11 target price on shares of Snap in a report on Tuesday, December 3rd. Finally, Canaccord Genuity Group lifted their price target on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.99.

Snap Stock Performance

NYSE SNAP opened at $11.34 on Friday. The firm has a market cap of $19.01 billion, a P/E ratio of -19.54 and a beta of 0.98. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The company’s 50 day moving average is $11.54 and its 200-day moving average is $11.03. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.50.

Snap (NYSE:SNAP) last issued its 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. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the firm posted ($0.21) EPS. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. Sell-side analysts predict that Snap Inc. will post -0.39 earnings per share for the current year.

Insider Activity at Snap

In other news, CAO Rebecca Morrow sold 11,154 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $117,674.70. Following the transaction, the chief accounting officer now owns 465,064 shares of the company’s stock, valued at approximately $4,906,425.20. This represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Eric Young sold 112,020 shares of Snap stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00. Following the sale, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. This represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 427,184 shares of company stock worth $4,761,369. 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.