Lido Advisors LLC Buys New Shares in Snap Inc. (NYSE:SNAP)

Lido Advisors LLC bought a new position in Snap Inc. (NYSE:SNAP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 40,297 shares of the company's stock, valued at approximately $434,000.

Other hedge funds have also modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new stake in Snap in the fourth quarter valued at approximately $27,000. Comprehensive Financial Planning Inc. PA acquired a new position in Snap during the fourth quarter worth $32,000. Osterweis Capital Management Inc. bought a new position in Snap during the fourth quarter valued at about $43,000. Blue Trust Inc. lifted its position in shares of Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after buying an additional 2,453 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in shares of Snap during the 4th quarter worth about $54,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction 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 sale, the chief technology officer now directly owns 54,517,308 shares in the company, valued at approximately $437,773,983.24. The trade was a 1.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Derek Andersen sold 61,334 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $664,860.56. Following the sale, the chief financial officer now directly owns 3,564,235 shares in the company, valued at $38,636,307.40. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,362,523 shares of company stock worth $20,719,017. Corporate insiders own 22.68% of the company's stock.

Snap Trading Up 1.0 %

Shares of SNAP stock traded up $0.09 during trading hours on Thursday, reaching $8.22. The company had a trading volume of 46,061,822 shares, compared to its average volume of 28,543,229. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap Inc. has a 1-year low of $7.08 and a 1-year high of $17.33. The company has a 50 day moving average of $8.55 and a 200 day moving average of $10.33. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of -19.56 and a beta of 0.61.

Snap (NYSE:SNAP - Get Free Report) last announced 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). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The business's revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. On average, equities research analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

SNAP has been the subject of several analyst reports. Stifel Nicolaus reduced their target price on Snap from $11.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Bank of America lowered their target price on shares of Snap from $14.50 to $10.50 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Rosenblatt Securities lowered their price target on Snap from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Truist Financial cut their price objective on Snap from $14.00 to $11.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Finally, UBS Group lowered their price objective on shares of Snap from $14.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $35.50.

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.