Kestra Private Wealth Services LLC Cuts Stock Position in Snap Inc. (NYSE:SNAP)

Kestra Private Wealth Services LLC lessened its stake in Snap Inc. (NYSE:SNAPGet Rating) by 15.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 10,049 shares of the company’s stock after selling 1,846 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Snap were worth $362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNAP. AdvisorNet Financial Inc grew its stake in shares of Snap by 198.7% during the first quarter. AdvisorNet Financial Inc now owns 708 shares of the company’s stock worth $25,000 after acquiring an additional 471 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Snap during the first quarter worth about $27,000. GHP Investment Advisors Inc. purchased a new stake in shares of Snap during the first quarter worth about $28,000. Meeder Asset Management Inc. grew its stake in shares of Snap by 1,189.2% during the first quarter. Meeder Asset Management Inc. now owns 838 shares of the company’s stock worth $30,000 after acquiring an additional 773 shares during the last quarter. Finally, Cornerstone Advisory LLC purchased a new stake in shares of Snap during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 51.41% of the company’s stock.

Insider Buying and Selling at Snap

In other Snap news, CFO Derek Andersen sold 8,316 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $14.02, for a total value of $116,590.32. Following the completion of the sale, the chief financial officer now directly owns 1,090,558 shares in the company, valued at approximately $15,289,623.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Jeremi Gorman sold 34,032 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $14.08, for a total value of $479,170.56. Following the transaction, the insider now owns 1,415,146 shares of the company’s stock, valued at approximately $19,925,255.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Derek Andersen sold 8,316 shares of the company’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $14.02, for a total value of $116,590.32. Following the completion of the transaction, the chief financial officer now directly owns 1,090,558 shares in the company, valued at approximately $15,289,623.16. The disclosure for this sale can be found here. Insiders sold a total of 1,197,414 shares of company stock worth $12,434,463 in the last three months.

Analysts Set New Price Targets

SNAP has been the subject of a number of research reports. Vertical Research downgraded Snap to a “buy” rating in a report on Tuesday, May 31st. Wells Fargo & Company downgraded Snap from an “overweight” rating to an “equal weight” rating in a report on Friday, July 22nd. JMP Securities decreased their target price on Snap from $42.00 to $24.00 and set a “market outperform” rating for the company in a report on Friday, July 22nd. Guggenheim downgraded Snap from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $12.00 in a report on Friday, July 22nd. Finally, Wolfe Research downgraded Snap from an “outperform” rating to a “peer perform” rating in a report on Monday, July 25th. Three analysts have rated the stock with a sell rating, twenty-four have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Snap currently has a consensus rating of “Hold” and a consensus price target of $20.91.

Snap Stock Down 2.0 %

Shares of SNAP opened at $11.12 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 5.65 and a current ratio of 5.65. Snap Inc. has a one year low of $9.34 and a one year high of $83.34. The stock has a market capitalization of $18.34 billion, a price-to-earnings ratio of -21.38 and a beta of 0.97. The stock has a 50 day moving average price of $11.46 and a 200 day moving average price of $19.87.

Snap (NYSE:SNAPGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.04). The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Snap had a negative return on equity of 21.55% and a negative net margin of 18.31%. Equities research analysts forecast that Snap Inc. will post -0.73 earnings per share for the current fiscal year.

Snap Company Profile

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Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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