Virtu Financial LLC Acquires New Stake in Snap Inc. (NYSE:SNAP)

Virtu Financial LLC bought a new stake in Snap Inc. (NYSE:SNAP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 71,007 shares of the company’s stock, valued at approximately $765,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNAP. United Bank purchased a new position in shares of Snap during the third quarter valued at approximately $177,000. Empowered Funds LLC raised its holdings in Snap by 13.2% in the 3rd quarter. Empowered Funds LLC now owns 34,584 shares of the company’s stock valued at $370,000 after acquiring an additional 4,044 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Snap during the 3rd quarter worth $81,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Snap during the third quarter worth $288,000. Finally, Advisors Asset Management Inc. grew its position in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares during the period. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Snap Stock Performance

NYSE:SNAP opened at $9.53 on Tuesday. The firm has a 50-day moving average of $10.33 and a two-hundred day moving average of $10.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The stock has a market cap of $16.16 billion, a P/E ratio of -22.68 and a beta of 0.92. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33.

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

Insider Activity

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $11.49, for a total transaction of $206,820.00. Following the sale, the general counsel now directly owns 480,498 shares of the company’s stock, valued at approximately $5,520,922.02. This represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 8,837 shares of Snap stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 1,350,523 shares of company stock worth $12,698,797. 22.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SNAP has been the topic of several recent analyst reports. Citigroup increased their target price on Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Citizens Jmp cut shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays restated an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. Wells Fargo & Company downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $15.00 to $11.00 in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Snap has an average rating of “Hold” and a consensus target price of $36.87.

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.