Concurrent Investment Advisors LLC Has $490,000 Stake in Snap Inc. $SNAP

Key Points

• Concurrent Investment Advisors LLC has reduced its stake in Snap Inc. by 56.9%, now holding shares valued at $490,000 after selling over 74,000 shares.
• Analysts have set target prices for Snap stock ranging from $8.00 to $9.50, with the average rating currently at "Hold".
• Snap reported a revenue increase of 8.7% year-over-year, with earnings of ($0.16) EPS for the last quarter, meeting consensus estimates.

Concurrent Investment Advisors LLC lowered its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 56.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,429 shares of the company's stock after selling 74,614 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Snap were worth $490,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. AssuredPartners Investment Advisors LLC lifted its holdings in Snap by 6.3% during the 1st quarter. AssuredPartners Investment Advisors LLC now owns 22,128 shares of the company's stock worth $193,000 after buying an additional 1,306 shares in the last quarter. DMC Group LLC raised its position in shares of Snap by 7.2% during the first quarter. DMC Group LLC now owns 19,547 shares of the company's stock worth $170,000 after acquiring an additional 1,313 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in shares of Snap by 9.2% during the second quarter. Apollon Wealth Management LLC now owns 15,934 shares of the company's stock valued at $138,000 after acquiring an additional 1,340 shares during the period. Zullo Investment Group Inc. boosted its holdings in Snap by 12.8% in the second quarter. Zullo Investment Group Inc. now owns 12,040 shares of the company's stock valued at $105,000 after acquiring an additional 1,365 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in Snap by 5.7% in the first quarter. SBI Securities Co. Ltd. now owns 32,439 shares of the company's stock worth $283,000 after purchasing an additional 1,755 shares during the period. 47.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. JMP Securities reiterated a "market perform" rating on shares of Snap in a research report on Wednesday, August 6th. Bank of America dropped their price objective on Snap from $10.00 to $9.50 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Piper Sandler cut their target price on Snap from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Mizuho began coverage on Snap in a report on Monday, September 29th. They set a "neutral" rating and a $9.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on Snap from $7.00 to $8.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 7th. Four equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $34.65.

Snap Trading Down 1.2%

Shares of Snap stock opened at $7.67 on Friday. The stock has a market cap of $12.96 billion, a P/E ratio of -23.97 and a beta of 0.71. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.73. Snap Inc. has a 12-month low of $6.90 and a 12-month high of $13.28. The business's 50 day moving average is $7.65 and its 200-day moving average is $8.27.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the company posted ($0.15) EPS. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. Snap has set its Q3 2025 guidance at EPS. Equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Michael J. O'sullivan sold 68,705 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $7.18, for a total value of $493,301.90. Following the completion of the transaction, the general counsel owned 2,015,624 shares of the company's stock, valued at $14,472,180.32. The trade was a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Derek Andersen sold 60,966 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $7.17, for a total transaction of $437,126.22. Following the completion of the transaction, the chief financial officer owned 3,143,452 shares of the company's stock, valued at $22,538,550.84. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,482,331 shares of company stock worth $11,364,779 in the last quarter. Insiders own 22.68% of the company's stock.

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.

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