Raymond James Financial Inc. Acquires Shares of 305,593 Snap Inc. (NYSE:SNAP)

Raymond James Financial Inc. bought a new position in Snap Inc. (NYSE:SNAP) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 305,593 shares of the company’s stock, valued at approximately $3,291,000.

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

Insider Buying and Selling at Snap

In other Snap news, CFO Derek Andersen sold 61,334 shares of Snap 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 $664,860.56. Following the sale, the chief financial officer now owns 3,564,235 shares of the company’s stock, valued at $38,636,307.40. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Michael J. O’sullivan sold 14,183 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $8.83, for a total value of $125,235.89. Following the transaction, the general counsel now owns 2,256,101 shares of the company’s stock, valued at $19,921,371.83. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,350,523 shares of company stock worth $12,698,797. Insiders own 22.68% of the company’s stock.

Snap Stock Down 2.5 %

Shares of SNAP opened at $9.17 on Friday. The business’s 50 day moving average is $10.20 and its 200 day moving average is $10.79. 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 Inc. has a 12-month low of $8.29 and a 12-month high of $17.33. The company has a market capitalization of $15.56 billion, a PE ratio of -21.84 and a beta of 0.92.

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

Wall Street Analyst Weigh In

A number of research firms have commented on SNAP. Barclays reiterated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. Guggenheim downgraded Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. Bank of America raised their target price on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Citizens Jmp lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus price target of $36.87.

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.