Independent Advisor Alliance Has $217,000 Stock Position in Snap Inc. (NYSE:SNAP)

Independent Advisor Alliance boosted its holdings in shares of Snap Inc. (NYSE:SNAP) by 19.4% in the 4th quarter, Holdings Channel reports. The firm owned 20,105 shares of the company’s stock after buying an additional 3,267 shares during the period. Independent Advisor Alliance’s holdings in Snap were worth $217,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SNAP. Charles Schwab Investment Management Inc. boosted its stake in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after buying an additional 2,386,519 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Snap in the 3rd quarter valued at approximately $2,349,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Snap by 49.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock valued at $28,245,000 after purchasing an additional 879,212 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in Snap during the 4th quarter worth approximately $289,000. Finally, Holocene Advisors LP bought a new position in Snap in the 3rd quarter valued at approximately $3,436,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Stock Up 3.7 %

SNAP stock opened at $9.06 on Thursday. The stock’s 50 day simple moving average is $10.56 and its 200 day simple moving average is $10.80. The company has a market cap of $15.36 billion, a P/E ratio of -21.56 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, research analysts expect that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other news, SVP Eric Young sold 102,152 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 3,443,419 shares of the company’s stock, valued at $37,326,661.96. This represents a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total value of $9,040,000.00. Following the completion of the transaction, the chief technology officer now owns 55,818,548 shares in the company, valued at $504,599,673.92. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,350,523 shares of company stock valued at $12,698,797. Corporate insiders own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SNAP shares. JPMorgan Chase & Co. lowered their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, February 5th. Citizens Jmp downgraded Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. BMO Capital Markets restated an “outperform” rating and set a $16.00 price target (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. Susquehanna raised their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Snap in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Snap currently has a consensus rating of “Hold” and a consensus price target of $36.87.

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.