Snap Inc. (NYSE:SNAP) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC boosted its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 22.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 274,285 shares of the company's stock after purchasing an additional 50,467 shares during the period. Cerity Partners LLC's holdings in Snap were worth $2,389,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNAP. NBC Securities Inc. grew its holdings in shares of Snap by 154,650.0% during the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock valued at $26,000 after acquiring an additional 3,093 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Snap in the 4th quarter valued at $27,000. Raiffeisen Bank International AG acquired a new stake in shares of Snap in the 4th quarter valued at $30,000. Rakuten Securities Inc. lifted its stake in shares of Snap by 155.4% in the 1st quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock valued at $30,000 after purchasing an additional 2,123 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Snap in the 4th quarter valued at $43,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Snap Price Performance

Shares of Snap stock opened at $10.00 on Friday. Snap Inc. has a twelve month low of $7.08 and a twelve month high of $15.35. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.55. The company has a 50-day simple moving average of $8.69 and a two-hundred day simple moving average of $9.35. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of -32.26 and a beta of 0.59.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. Snap's quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Analysts forecast that Snap Inc. will post -0.3 EPS for the current year.

Insider Activity at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $8.03, for a total value of $8,030,000.00. Following the completion of the sale, the chief technology officer owned 54,517,308 shares in the company, valued at $437,773,983.24. This represents a 1.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Derek Andersen sold 208,525 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $9.03, for a total transaction of $1,882,980.75. Following the sale, the chief financial officer owned 3,299,372 shares of the company's stock, valued at $29,793,329.16. This trade represents a 5.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,667,802 shares of company stock worth $13,799,881 over the last ninety days. 22.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on SNAP shares. Rosenblatt Securities cut their target price on shares of Snap from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Susquehanna lowered their target price on shares of Snap from $13.00 to $8.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Truist Financial reduced their price target on shares of Snap from $14.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Citigroup lowered shares of Snap from an "outperform" rating to a "negative" rating in a research report on Tuesday. Finally, TD Cowen boosted their price target on shares of Snap from $9.00 to $10.00 and gave the company a "hold" rating in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $34.79.

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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