Cetera Investment Advisers Purchases 20,038 Shares of Snap Inc. (NYSE:SNAP)

Cetera Investment Advisers boosted its position in shares of Snap Inc. (NYSE:SNAP) by 23.7% in the second quarter, Holdings Channel reports. The firm owned 104,470 shares of the company’s stock after purchasing an additional 20,038 shares during the period. Cetera Investment Advisers’ holdings in Snap were worth $1,735,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. EP Wealth Advisors LLC increased its position in shares of Snap by 8.5% during the second quarter. EP Wealth Advisors LLC now owns 42,300 shares of the company’s stock worth $703,000 after acquiring an additional 3,327 shares in the last quarter. Smith Thornton Advisors LLC acquired a new stake in shares of Snap in the 2nd quarter valued at about $328,000. Mackenzie Financial Corp lifted its holdings in shares of Snap by 5.9% in the second quarter. Mackenzie Financial Corp now owns 156,838 shares of the company’s stock valued at $2,605,000 after purchasing an additional 8,714 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Snap by 16.4% during the second quarter. The Manufacturers Life Insurance Company now owns 65,276 shares of the company’s stock worth $1,084,000 after buying an additional 9,185 shares during the period. Finally, MBB Public Markets I LLC acquired a new position in shares of Snap during the second quarter worth about $1,297,000. Institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SNAP shares. Truist Financial cut their target price on Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. HSBC lowered shares of Snap from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Morgan Stanley raised shares of Snap from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $12.00 to $16.00 in a research report on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $8.00 price target on shares of Snap in a research report on Monday, October 7th. Finally, Citigroup decreased their price objective on Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Snap currently has a consensus rating of “Hold” and a consensus price target of $13.77.

Insider Buying and Selling

In other Snap news, CFO Derek Andersen sold 97,608 shares of Snap stock in a transaction on Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the transaction, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snap news, CFO Derek Andersen sold 97,608 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the transaction, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the completion of the transaction, the general counsel now owns 489,058 shares of the company’s stock, valued at $5,286,716.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,510,352 shares of company stock valued at $13,446,353 over the last 90 days. 22.68% of the stock is owned by corporate insiders.

Snap Stock Down 0.6 %

SNAP stock opened at $11.06 on Tuesday. The business’s fifty day moving average price is $9.63 and its two-hundred day moving average price is $12.74. The stock has a market capitalization of $18.15 billion, a price-to-earnings ratio of -13.65 and a beta of 1.01. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. On average, equities analysts anticipate that Snap Inc. will post -0.47 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.