Wealth Enhancement Advisory Services LLC Grows Stake in Snap Inc. (NYSE:SNAP)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Snap Inc. (NYSE:SNAP) by 20.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,323 shares of the company’s stock after buying an additional 2,395 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Snap were worth $153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNAP. Marshall Wace LLP boosted its holdings in Snap by 587.3% in the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after acquiring an additional 12,533,653 shares in the last quarter. TB Alternative Assets Ltd. boosted its stake in shares of Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares in the last quarter. Discovery Capital Management LLC CT purchased a new position in shares of Snap during the second quarter valued at about $22,591,000. Assenagon Asset Management S.A. raised its stake in Snap by 74.0% in the second quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock worth $46,913,000 after buying an additional 1,201,565 shares in the last quarter. Finally, Curated Wealth Partners LLC lifted its holdings in Snap by 200.0% in the second quarter. Curated Wealth Partners LLC now owns 536,541 shares of the company’s stock worth $8,912,000 after buying an additional 1,073,082 shares during the period. Institutional investors own 47.52% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.31, for a total value of $221,580.00. Following the completion of the sale, the general counsel now directly owns 471,058 shares of the company’s stock, valued at $5,798,723.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.31, for a total transaction of $221,580.00. Following the sale, the general counsel now owns 471,058 shares of the company’s stock, valued at approximately $5,798,723.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the transaction, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at $715,137,362.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,365,051 shares of company stock worth $15,965,178. Company insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group upped their target price on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JMP Securities decreased their price objective on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, October 30th. Citigroup dropped their target price on shares of Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Hsbc Global Res lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group boosted their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.31.

Snap Stock Down 6.0 %

SNAP stock opened at $11.24 on Wednesday. The business’s 50-day moving average is $10.56 and its two-hundred day moving average is $12.74. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market cap of $18.85 billion, a price-to-earnings ratio of -19.38 and a beta of 0.99.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Snap’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, analysts forecast that Snap Inc. will post -0.41 earnings per share for the current 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.