Commonwealth Equity Services LLC Decreases Position in Snap Inc. (NYSE:SNAP)

Commonwealth Equity Services LLC trimmed its position in shares of Snap Inc. (NYSE:SNAP) by 9.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 108,897 shares of the company’s stock after selling 10,783 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Snap were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Comprehensive Financial Planning Inc. PA bought a new position in shares of Snap during the fourth quarter worth $32,000. Blue Trust Inc. raised its position in shares of Snap by 128.0% in the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after acquiring an additional 2,453 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new position in Snap in the fourth quarter worth $54,000. V Square Quantitative Management LLC raised its position in shares of Snap by 213.3% in the 4th quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company’s stock valued at $91,000 after purchasing an additional 5,704 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC purchased a new stake in Snap during the 4th quarter valued at about $110,000. 47.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SNAP has been the subject of several research analyst reports. 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. JPMorgan Chase & Co. cut their price objective on shares of Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, February 5th. Citizens Jmp cut shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 price target (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Finally, Guggenheim lowered Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $36.80.

Insider Buying and Selling at Snap

In other news, CAO Rebecca Morrow sold 8,837 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the sale, the chief accounting officer now owns 429,892 shares of the company’s stock, valued at approximately $4,660,029.28. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the sale, the general counsel now owns 480,498 shares in the company, valued at $5,520,922.02. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,332,523 shares of company stock worth $12,503,677 over the last three months. Corporate insiders own 22.68% of the company’s stock.

Snap Stock Performance

NYSE:SNAP opened at $8.71 on Tuesday. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The company has a 50-day moving average of $10.12 and a 200-day moving average of $10.82. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of -20.73 and a beta of 0.92. 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 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 net margin of 13.02% and a negative return on equity of 25.67%. Analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

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.