Steward Partners Investment Advisory LLC Lowers Stake in Snap Inc. (NYSE:SNAP)

Steward Partners Investment Advisory LLC lessened its stake in Snap Inc. (NYSE:SNAP) by 12.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,311 shares of the company’s stock after selling 4,054 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Snap were worth $316,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Advisors Asset Management Inc. raised its stake in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after acquiring an additional 1,632 shares during the period. Comprehensive Financial Planning Inc. PA bought a new position in Snap during the 4th quarter worth about $32,000. Brooklyn Investment Group bought a new stake in shares of Snap in the 3rd quarter valued at about $41,000. Blue Trust Inc. boosted its holdings in shares of Snap by 128.0% in the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock valued at $47,000 after buying an additional 2,453 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in Snap in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Price Performance

SNAP stock opened at $8.37 on Friday. The company has a market capitalization of $14.19 billion, a P/E ratio of -19.92 and a beta of 0.92. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The business has a 50 day simple moving average of $10.83 and a 200-day simple moving average of $10.80. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, equities analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Eric Young sold 102,152 shares of the firm’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 $1,107,327.68. Following the completion of the transaction, the senior vice president now owns 3,443,419 shares in the company, valued at $37,326,661.96. This trade represents a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Derek Andersen sold 94,164 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the transaction, the chief financial officer now owns 2,193,806 shares of the company’s stock, valued at approximately $25,097,140.64. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,449,168 shares of company stock worth $14,033,679. 22.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SNAP shares. JPMorgan Chase & Co. reduced their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, February 5th. Guggenheim lowered shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Snap in a research note on Thursday, December 5th. JMP Securities reissued a “market outperform” rating and set a $16.00 price target on shares of Snap in a research report on Monday, January 27th. Finally, Citizens Jmp lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $36.87.

About Snap

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.