Exchange Traded Concepts LLC Sells 227,941 Shares of Snap Inc. $SNAP

Key Points

• Exchange Traded Concepts LLC reduced its stake in Snap Inc. by 32.4%, selling 227,941 shares, and now holds 475,289 shares valued at approximately $4.13 million.
• Snap's stock is currently trading at $8.17, with a 1-year low of $6.90 and a 1-year high of $13.28, reflecting a 3.2% decrease recently.
• Several institutional investors, including Vanguard Group and AQR Capital Management, have increased their holdings, with institutional ownership now standing at 47.52%.

Exchange Traded Concepts LLC lowered its position in Snap Inc. (NYSE:SNAP - Free Report) by 32.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 475,289 shares of the company's stock after selling 227,941 shares during the quarter. Exchange Traded Concepts LLC's holdings in Snap were worth $4,130,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in shares of Snap by 2.4% during the 4th quarter. Ameriprise Financial Inc. now owns 157,118 shares of the company's stock worth $1,692,000 after purchasing an additional 3,710 shares during the period. Focus Partners Wealth purchased a new stake in Snap during the fourth quarter worth approximately $145,000. ProShare Advisors LLC increased its position in shares of Snap by 58.1% in the fourth quarter. ProShare Advisors LLC now owns 26,292 shares of the company's stock worth $283,000 after acquiring an additional 9,657 shares in the last quarter. State of Wyoming purchased a new position in shares of Snap in the 4th quarter valued at $61,000. Finally, Vident Advisory LLC raised its stake in shares of Snap by 23.7% in the 4th quarter. Vident Advisory LLC now owns 123,419 shares of the company's stock valued at $1,329,000 after acquiring an additional 23,656 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Up 4.6%

Snap stock traded up $0.38 during trading hours on Monday, hitting $8.54. The company had a trading volume of 219,197,906 shares, compared to its average volume of 45,138,535. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88. Snap Inc. has a fifty-two week low of $6.90 and a fifty-two week high of $13.28. The firm's fifty day moving average is $8.13 and its 200-day moving average is $8.39. The firm has a market capitalization of $14.42 billion, a P/E ratio of -26.67 and a beta of 0.62.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). Snap had a negative net margin of 9.69% and a negative return on equity of 23.32%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned ($0.15) earnings per share. The company's revenue for the quarter was up 8.7% on a year-over-year basis. Snap has set its Q3 2025 guidance at EPS. On average, research analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on SNAP shares. UBS Group cut their price objective on Snap from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company lifted their target price on Snap from $8.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Guggenheim reissued a "neutral" rating and issued a $8.00 price target on shares of Snap in a report on Friday, September 12th. BMO Capital Markets lowered their price objective on Snap from $13.00 to $12.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Finally, Rosenblatt Securities cut their target price on Snap from $9.00 to $8.70 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $35.84.

Insider Buying and Selling

In related news, CFO Derek Andersen sold 33,871 shares of the business's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $7.56, for a total transaction of $256,064.76. Following the transaction, the chief financial officer directly owned 3,109,581 shares in the company, valued at $23,508,432.36. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Rebecca Morrow sold 10,216 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $7.17, for a total transaction of $73,248.72. Following the completion of the transaction, the chief accounting officer owned 436,087 shares of the company's stock, valued at approximately $3,126,743.79. This represents a 2.29% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,510,532 shares of company stock worth $11,650,269. 22.68% of the stock is currently owned by corporate insiders.

Snap 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.