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

Sowell Financial Services LLC boosted its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 223.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,709 shares of the company's stock after purchasing 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.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Capital World Investors boosted its position in Snap by 38.9% during the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company's stock valued at $906,161,000 after purchasing an additional 23,569,522 shares during the period. SRS Investment Management LLC boosted its position in Snap by 1.4% during the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company's stock valued at $793,998,000 after purchasing an additional 1,001,632 shares during the period. Capital International Investors acquired a new position in Snap during the 4th quarter valued at approximately $422,049,000. Geode Capital Management LLC boosted its position in Snap by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company's stock valued at $127,078,000 after purchasing an additional 134,017 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Snap by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company's stock valued at $76,201,000 after purchasing an additional 828,285 shares during the period. Institutional investors and hedge funds own 47.52% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. BMO Capital Markets cut their target price on Snap from $16.00 to $13.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. JMP Securities set a $12.00 target price on Snap in a research note on Friday, April 25th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $12.00 target price on shares of Snap in a research note on Wednesday, April 30th. Citigroup cut their target price on Snap from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Finally, Loop Capital cut their target price on Snap from $16.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Snap presently has an average rating of "Hold" and a consensus target price of $35.62.

Insider Activity at Snap

In related news, CFO Derek Andersen sold 33,886 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.04, for a total transaction of $272,443.44. Following the transaction, the chief financial officer now directly owns 3,204,418 shares of the company's stock, valued at approximately $25,763,520.72. The trade was a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 9,202 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.59, for a total value of $79,045.18. Following the transaction, the chief accounting officer now directly owns 448,881 shares in the company, valued at $3,855,887.79. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,639,601 shares of company stock valued at $13,532,151. Company insiders own 22.68% of the company's stock.

Snap Stock Up 0.8%

Shares of Snap stock opened at $8.24 on Friday. The stock's fifty day moving average is $8.32 and its 200-day moving average is $9.73. The firm has a market capitalization of $13.78 billion, a PE ratio of -26.59 and a beta of 0.59. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.55. Snap Inc. has a 12-month low of $7.08 and a 12-month high of $17.33.

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

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.

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