Trek Financial LLC Purchases 191,199 Shares of Snap Inc. $SNAP

Key Points

• Trek Financial LLC boosted its Snap stake by 33.1% in the fourth quarter, buying 191,199 additional shares and bringing its total holdings to 769,475 shares worth about $6.21 million.
• Several institutional investors also added to Snap positions, and overall institutional ownership stands at 47.52% of the company’s stock.
• Snap’s latest earnings showed EPS of -$0.05, missing expectations, while revenue came in at $1.53 billion and rose 12.2% year over year; analysts currently rate the stock a Hold with a consensus target of $7.91.

Trek Financial LLC increased its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 33.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 769,475 shares of the company's stock after purchasing an additional 191,199 shares during the quarter. Trek Financial LLC's holdings in Snap were worth $6,210,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company's stock worth $25,000 after buying an additional 1,581 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Snap in the fourth quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Snap in the 3rd quarter worth approximately $33,000. Banque Cantonale Vaudoise acquired a new position in shares of Snap in the 3rd quarter worth approximately $39,000. Finally, Newbridge Financial Services Group Inc. grew its position in Snap by 37.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 5,500 shares of the company's stock worth $44,000 after acquiring an additional 1,500 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SNAP. Citigroup lifted their price objective on Snap from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Wednesday, April 15th. Mizuho decreased their target price on Snap from $9.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, February 5th. HSBC lowered Snap from a "hold" rating to a "hold" rating in a research note on Monday, April 27th. Sanford C. Bernstein downgraded shares of Snap from a "market perform" rating to a "market perform" rating in a research report on Monday, April 27th. Finally, The Goldman Sachs Group decreased their price objective on shares of Snap from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $7.91.

Insider Activity

In related news, CFO Derek Andersen sold 92,956 shares of Snap stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $4.59, for a total transaction of $426,668.04. Following the transaction, the chief financial officer owned 3,799,661 shares of the company's stock, valued at $17,440,443.99. This trade represents a 2.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rebecca Morrow sold 16,499 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total transaction of $77,545.30. Following the transaction, the chief accounting officer owned 466,682 shares of the company's stock, valued at approximately $2,193,405.40. This represents a 3.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 565,573 shares of company stock worth $2,699,781 over the last quarter.

Snap Trading Down 5.3%

NYSE SNAP opened at $5.76 on Tuesday. Snap Inc. has a 12 month low of $3.81 and a 12 month high of $10.41. The stock has a 50-day simple moving average of $5.17 and a 200 day simple moving average of $6.55. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $9.72 billion, a PE ratio of -23.99 and a beta of 1.05.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.14). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. Snap had a negative return on equity of 18.69% and a negative net margin of 6.72%.Snap's quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.08) EPS. Research analysts forecast that Snap Inc. will post -0.12 EPS for the current year.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.

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