Cerity Partners LLC Acquires 3,103 Shares of Snap Inc. (NYSE:SNAP)

Cerity Partners LLC raised its holdings in Snap Inc. (NYSE:SNAP) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,208 shares of the company’s stock after buying an additional 3,103 shares during the period. Cerity Partners LLC’s holdings in Snap were worth $2,570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares during the last quarter. Banco Santander S.A. bought a new position in Snap during the third quarter worth $6,334,000. Landscape Capital Management L.L.C. acquired a new position in shares of Snap in the third quarter valued at $2,385,000. Intech Investment Management LLC grew its stake in Snap by 1.9% in the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock valued at $830,000 after buying an additional 1,433 shares during the last quarter. Finally, EULAV Asset Management raised its holdings in Snap by 47.1% in the 3rd quarter. EULAV Asset Management now owns 890,000 shares of the company’s stock valued at $9,523,000 after acquiring an additional 285,000 shares during the period. Institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SNAP shares. Citigroup boosted their price objective on Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday. The Goldman Sachs Group upped their price objective on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. B. Riley increased their price objective on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their target price on shares of Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, Argus raised shares of Snap to a “hold” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.33.

Snap Stock Performance

Shares of Snap stock opened at $11.81 on Friday. The company’s 50 day moving average price is $11.04 and its two-hundred day moving average price is $12.31. The firm has a market capitalization of $19.81 billion, a P/E ratio of -20.36 and a beta of 0.99. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business posted ($0.21) EPS. Snap’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities analysts forecast that Snap Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other Snap news, Director Joanna Coles sold 6,434 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total value of $77,208.00. Following the sale, the director now owns 54,761 shares in the company, valued at approximately $657,132. The trade was a 10.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the transaction, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at $715,137,362.50. This trade represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,388,709 shares of company stock worth $16,448,087. Insiders own 22.68% of the company’s stock.

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.