Blue Trust Inc. Has $48,000 Holdings in Snap Inc. (NYSE:SNAP)

Blue Trust Inc. grew its holdings in Snap Inc. (NYSE:SNAP) by 136.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,529 shares of the company’s stock after purchasing an additional 2,612 shares during the period. Blue Trust Inc.’s holdings in Snap were worth $48,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in Snap by 16.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,276 shares of the company’s stock worth $1,084,000 after buying an additional 9,185 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Snap by 23.7% during the second quarter. Cetera Investment Advisers now owns 104,470 shares of the company’s stock worth $1,735,000 after acquiring an additional 20,038 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Snap by 18.8% during the third quarter. Atomi Financial Group Inc. now owns 27,398 shares of the company’s stock worth $293,000 after acquiring an additional 4,341 shares in the last quarter. CWM LLC grew its stake in Snap by 17.4% in the third quarter. CWM LLC now owns 114,689 shares of the company’s stock valued at $1,227,000 after purchasing an additional 16,968 shares in the last quarter. Finally, Perpetual Ltd acquired a new position in Snap in the 3rd quarter worth about $302,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Stock Performance

Shares of NYSE SNAP opened at $10.91 on Monday. The firm has a market capitalization of $18.29 billion, a price-to-earnings ratio of -25.96 and a beta of 0.99. Snap Inc. has a one year low of $8.29 and a one year high of $17.33. The business has a fifty day simple moving average of $11.47 and a 200 day simple moving average of $10.81. The company has a current ratio of 3.95, a quick ratio of 4.04 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Sell-side analysts expect that Snap Inc. will post -0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SNAP shares. Cantor Fitzgerald lifted their price target 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 reissued a “buy” rating and issued a $640.00 target price on shares of Snap in a research report on Thursday, December 5th. Loop Capital raised their price target on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price objective on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, February 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of Snap in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.87.

Insider Buying and Selling at Snap

In other news, 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 shares were sold at an average price of $10.54, for a total transaction of $129,800.10. Following the completion of the sale, the general counsel now owns 1,195,567 shares of the company’s stock, valued at approximately $12,601,276.18. This trade represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Eric Young sold 112,020 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $1,181,811.00. Following the completion of the transaction, the senior vice president now directly owns 2,791,048 shares in the company, valued at $29,445,556.40. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 443,518 shares of company stock valued at $4,947,981. 22.68% of the stock is currently owned by corporate insiders.

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.