Snap Inc. $SNAP Shares Sold by Sowell Financial Services LLC

Key Points

• Sowell Financial Services LLC has reduced its stake in Snap Inc. by 66.1%, selling 42,111 shares and now holding 21,598 shares valued at approximately $188,000.
• Snap Inc. reported revenues of $1.34 billion for the latest quarter, with earnings per share matching analyst estimates at ($0.16), showing an 8.7% revenue increase year-over-year.
• Several research firms have downgraded their ratings on Snap, with Citigroup changing its stance from "outperform" to "negative" and the average consensus price target for the stock currently at $35.84.

Sowell Financial Services LLC cut its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 66.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 21,598 shares of the company's stock after selling 42,111 shares during the quarter. Sowell Financial Services LLC's holdings in Snap were worth $188,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of SNAP. Ameriprise Financial Inc. boosted its stake 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 acquiring an additional 3,710 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Snap by 58.1% during the 4th 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. B. Riley Wealth Advisors Inc. bought a new stake in shares of Snap during the 4th quarter worth $225,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Snap during the 4th quarter worth $5,135,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Snap by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company's stock worth $184,000 after acquiring an additional 2,792 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Down 0.6%

SNAP stock opened at $8.28 on Friday. Snap Inc. has a twelve month low of $6.90 and a twelve month high of $13.28. The company has a market cap of $13.99 billion, a PE ratio of -25.88 and a beta of 0.62. The business's 50-day simple moving average is $7.99 and its 200 day simple moving average is $8.37. 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 (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.16). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business earned ($0.15) earnings per share. Snap has set its Q3 2025 guidance at EPS. On average, research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNAP. Citigroup lowered Snap from an "outperform" rating to a "negative" rating in a research note on Tuesday, July 15th. TD Cowen raised their price objective on Snap from $9.00 to $10.00 and gave the stock a "hold" rating in a research note on Tuesday, July 15th. Truist Financial reduced their price objective on Snap from $11.00 to $10.00 and set a "hold" rating for the company in a research note on Wednesday, August 6th. Cantor Fitzgerald reissued a "neutral" rating and set a $7.00 price objective on shares of Snap in a research note on Wednesday, August 6th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Snap in a research report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $35.84.

Insider Activity at Snap

In other Snap news, CFO Derek Andersen sold 33,871 shares of Snap stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $7.56, for a total transaction of $256,064.76. Following the sale, the chief financial officer directly owned 3,109,581 shares of the company's stock, valued at approximately $23,508,432.36. The trade was a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O'sullivan sold 14,290 shares of Snap stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $7.58, for a total value of $108,318.20. Following the sale, the general counsel directly owned 1,939,064 shares in the company, valued at $14,698,105.12. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,510,532 shares of company stock valued at $11,650,269. Corporate 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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