Snap Inc. (NYSE:SNAP) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its stake in shares of Snap Inc. (NYSE:SNAP) by 37.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,143 shares of the company’s stock after buying an additional 22,328 shares during the quarter. Sanctuary Advisors LLC’s holdings in Snap were worth $938,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Snap in the third quarter valued at $29,000. Paladin Wealth LLC purchased a new position in shares of Snap in the 3rd quarter valued at about $30,000. Advisors Asset Management Inc. raised its position in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after acquiring an additional 1,632 shares in the last quarter. Hollencrest Capital Management purchased a new stake in Snap during the second quarter worth approximately $33,000. Finally, Rothschild Investment LLC acquired a new position in Snap in the second quarter valued at approximately $40,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 11,154 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $117,674.70. Following the completion of the transaction, the chief accounting officer now owns 465,064 shares of the company’s stock, valued at approximately $4,906,425.20. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction 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 directly owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. This trade represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,451,618 shares of company stock worth $17,559,617. 22.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on SNAP. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. Citigroup lifted their price target on shares of Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Canaccord Genuity Group raised their price objective on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Truist Financial boosted their target price on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Guggenheim restated a “buy” rating and set a $12.11 price target on shares of Snap in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.10.

Snap Stock Performance

SNAP opened at $11.40 on Monday. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.75. The stock has a market cap of $19.12 billion, a P/E ratio of -19.65 and a beta of 0.97. The stock’s 50 day simple moving average is $11.41 and its 200 day simple moving average is $11.91. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. Snap’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.21) earnings per share. As a group, equities analysts anticipate that Snap Inc. will post -0.4 EPS 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.