IHT Wealth Management LLC Sells 44,419 Shares of Snap Inc. (NYSE:SNAP)

IHT Wealth Management LLC decreased its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 77.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,791 shares of the company's stock after selling 44,419 shares during the period. IHT Wealth Management LLC's holdings in Snap were worth $138,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Senator Investment Group LP bought a new stake in Snap during the fourth quarter valued at $16,155,000. Trajan Wealth LLC grew its position in shares of Snap by 5.9% during the 4th quarter. Trajan Wealth LLC now owns 20,191 shares of the company's stock valued at $217,000 after buying an additional 1,132 shares during the last quarter. Natixis raised its stake in Snap by 69.6% during the fourth quarter. Natixis now owns 2,909,997 shares of the company's stock worth $31,341,000 after acquiring an additional 1,193,826 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Snap by 140.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 107,948 shares of the company's stock worth $1,163,000 after purchasing an additional 62,977 shares during the period. Finally, Capital World Investors lifted its stake in Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company's stock valued at $906,161,000 after buying an additional 23,569,522 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snap

In other Snap news, General Counsel Michael J. O'sullivan sold 24,000 shares of Snap stock in a transaction on 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 transaction, the general counsel now owns 483,660 shares in the company, valued at approximately $3,743,528.40. The trade was a 4.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 8,837 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the completion of the transaction, the chief accounting officer now directly owns 429,892 shares in the company, valued at approximately $4,660,029.28. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,362,523 shares of company stock valued at $12,689,017. 22.68% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Bank of America decreased their target price on shares of Snap from $14.50 to $10.50 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Guggenheim reissued a "neutral" rating on shares of Snap in a research note on Wednesday, April 2nd. Morgan Stanley cut their price objective on shares of Snap from $8.00 to $6.50 and set an "equal weight" rating on the stock in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of Snap from $9.00 to $8.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, Rosenblatt Securities cut their price target on shares of Snap from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $35.58.

Snap Price Performance

SNAP traded up $0.61 during midday trading on Friday, reaching $8.44. 79,060,303 shares of the company's stock were exchanged, compared to its average volume of 28,387,780. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The business has a 50-day simple moving average of $8.69 and a two-hundred day simple moving average of $10.39. The firm has a market capitalization of $14.32 billion, a price-to-earnings ratio of -20.09 and a beta of 0.61. Snap Inc. has a one year low of $7.08 and a one year high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $1.35 billion. Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The company's quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share. As a group, research analysts predict that Snap Inc. will post -0.3 EPS 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.