Grant Private Wealth Management Inc Invests $330,000 in Snap Inc. (NYSE:SNAP)

Grant Private Wealth Management Inc bought a new stake in Snap Inc. (NYSE:SNAP) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 30,626 shares of the company’s stock, valued at approximately $330,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Invenomic Capital Management LP purchased a new position in Snap in the third quarter valued at $2,349,000. Charles Schwab Investment Management Inc. raised its position in Snap by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock valued at $71,095,000 after purchasing an additional 389,812 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Snap by 49.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock valued at $28,245,000 after buying an additional 879,212 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Snap during the fourth quarter worth about $289,000. Finally, Holocene Advisors LP purchased a new stake in shares of Snap during the third quarter worth approximately $3,436,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the transaction, the chief technology officer now directly owns 55,818,548 shares of the company’s stock, valued at approximately $504,599,673.92. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s 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 approximately $5,520,922.02. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,356,523 shares of company stock valued at $12,710,077. Corporate insiders own 22.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SNAP shares. Barclays reiterated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Citigroup lifted their price objective on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Snap in a report on Thursday, December 5th. Susquehanna lifted their price target on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Snap in a research report on Wednesday. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and an average target price of $36.80.

Snap Stock Down 0.8 %

Snap stock opened at $8.86 on Thursday. The stock’s 50 day moving average price is $10.06 and its 200 day moving average price is $10.80. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33. The company has a market cap of $15.03 billion, a PE ratio of -21.09 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95.

Snap (NYSE:SNAP) last issued its 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, sell-side analysts predict that Snap Inc. will post -0.3 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.