Snap Inc. (NYSE:SNAP) Shares Acquired by Sowell Financial Services LLC

Sowell Financial Services LLC lifted its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 223.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,709 shares of the company's stock after acquiring an additional 44,013 shares during the quarter. Sowell Financial Services LLC's holdings in Snap were worth $555,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SNAP. Mountain Hill Investment Partners Corp. acquired a new position in Snap in the fourth quarter valued at about $27,000. Raiffeisen Bank International AG acquired a new stake in shares of Snap in the 4th quarter valued at approximately $30,000. NBC Securities Inc. boosted its stake in Snap by 154,650.0% during the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after acquiring an additional 3,093 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in Snap during the fourth quarter valued at approximately $43,000. Finally, Blue Trust Inc. increased its stake in Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock valued at $47,000 after purchasing an additional 2,453 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Michael J. O'sullivan sold 24,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $7.74, for a total value of $185,760.00. Following the completion of the sale, the general counsel now owns 483,660 shares of the company's stock, valued at approximately $3,743,528.40. The trade was a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 54,517,308 shares in the company, valued at $437,773,983.24. This trade represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,639,601 shares of company stock worth $13,532,151.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citizens Jmp upgraded shares of Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Loop Capital reduced their price target on Snap from $16.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Bank of America decreased their price target on Snap from $14.50 to $10.50 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. JMP Securities set a $12.00 target price on shares of Snap in a research note on Friday, April 25th. Finally, Truist Financial dropped 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. One analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $35.62.

Snap Price Performance

NYSE SNAP traded down $0.09 during trading hours on Monday, hitting $7.92. The company had a trading volume of 35,352,673 shares, compared to its average volume of 29,730,251. Snap Inc. has a 52 week low of $7.08 and a 52 week high of $17.33. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of -25.55 and a beta of 0.59. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.30 and a current ratio of 4.30. The firm has a 50 day simple moving average of $8.32 and a 200 day simple moving average of $9.63.

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

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.