Citizens Financial Group Inc. RI Invests $180,000 in Snap Inc. (NYSE:SNAP)

Citizens Financial Group Inc. RI purchased a new position in Snap Inc. (NYSE:SNAP) in the second quarter, Holdings Channel.com reports. The firm purchased 10,833 shares of the company’s stock, valued at approximately $180,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC raised its position in Snap by 12.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock worth $683,000 after acquiring an additional 4,307 shares during the period. Carmignac Gestion purchased a new stake in shares of Snap in the 4th quarter worth $110,103,000. TCW Group Inc. bought a new position in Snap in the 4th quarter worth $275,000. V Square Quantitative Management LLC lifted its position in Snap by 72.7% during the fourth quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock valued at $188,000 after purchasing an additional 4,679 shares in the last quarter. Finally, Alta Park Capital LP bought a new stake in Snap during the fourth quarter valued at about $13,845,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SNAP shares. JPMorgan Chase & Co. decreased their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. JMP Securities restated a “market perform” rating on shares of Snap in a research note on Wednesday. Cantor Fitzgerald initiated coverage on shares of Snap in a research report on Thursday, September 5th. They issued a “neutral” rating and a $8.00 price target for the company. Argus upgraded shares of Snap to a “hold” rating in a research report on Thursday, August 8th. Finally, Wolfe Research assumed coverage on shares of Snap in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and a consensus target price of $13.87.

Insiders Place Their Bets

In other Snap news, SVP Eric Young sold 114,097 shares of Snap stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the completion of the transaction, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at $27,710,096.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the transaction, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Young sold 114,097 shares of Snap stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the transaction, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at $27,710,096.53. The disclosure for this sale can be found here. Insiders sold 1,511,540 shares of company stock valued at $13,569,906 over the last three months. 22.68% of the stock is owned by company insiders.

Snap Trading Up 4.2 %

Shares of SNAP opened at $10.08 on Friday. The company’s fifty day moving average is $10.70 and its 200 day moving average is $12.81. Snap Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $17.90. The stock has a market capitalization of $16.73 billion, a PE ratio of -12.44 and a beta of 1.00. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Sell-side analysts expect that Snap Inc. will post -0.48 earnings per share for the current fiscal year.

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.