Janney Montgomery Scott LLC Has $221,000 Stock Holdings in Snap Inc. (NYSE:SNAP)

Janney Montgomery Scott LLC trimmed its position in shares of Snap Inc. (NYSE:SNAP – Get Rating) by 12.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 24,643 shares of the company’s stock after selling 3,666 shares during the period. Janney Montgomery Scott LLC’s holdings in Snap were worth $221,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake in Snap by 25.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 23,503 shares of the company’s stock valued at $210,000 after purchasing an additional 4,705 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Snap by 6.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,757,142 shares of the company’s stock valued at $42,576,000 after purchasing an additional 293,043 shares in the last quarter. Blue Zone Wealth Advisors LLC lifted its holdings in shares of Snap by 1.5% during the 4th quarter. Blue Zone Wealth Advisors LLC now owns 102,637 shares of the company’s stock worth $919,000 after acquiring an additional 1,519 shares during the period. Inspire Investing LLC lifted its stake in Snap by 32.5% during the fourth quarter. Inspire Investing LLC now owns 38,749 shares of the company’s stock worth $347,000 after purchasing an additional 9,506 shares during the last quarter. Finally, Stonegate Investment Group LLC acquired a new position in shares of Snap during the 4th quarter worth $916,000. 43.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. TD Cowen upped their price target on shares of Snap from $8.00 to $9.00 and gave the company a “market perform” rating in a research report on Monday, April 17th. Royal Bank of Canada decreased their target price on Snap from $10.00 to $9.00 in a research note on Friday, April 28th. Canaccord Genuity Group decreased their target price on Snap from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Snap from $9.00 to $8.00 in a research report on Friday, April 28th. Finally, Susquehanna boosted their target price on shares of Snap from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, February 1st. Three equities research analysts have rated the stock with a sell rating, thirty have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.69.

Insider Activity at Snap

In related news, CAO Rebecca Morrow sold 5,617 shares of the stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $10.69, for a total value of $60,045.73. Following the completion of the transaction, the chief accounting officer now directly owns 252,497 shares in the company, valued at approximately $2,699,192.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Rebecca Morrow sold 5,617 shares of the firm’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $10.69, for a total transaction of $60,045.73. Following the completion of the transaction, the chief accounting officer now directly owns 252,497 shares in the company, valued at $2,699,192.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $10.15, for a total value of $131,950.00. Following the transaction, the general counsel now owns 491,330 shares of the company’s stock, valued at $4,986,999.50. The disclosure for this sale can be found here. Insiders have sold 371,323 shares of company stock worth $4,036,265 over the last ninety days.

Snap Trading Down 1.8 %

NYSE SNAP opened at $8.27 on Wednesday. The stock has a 50 day simple moving average of $10.36 and a two-hundred day simple moving average of $10.08. Snap Inc. has a fifty-two week low of $7.33 and a fifty-two week high of $24.80. The stock has a market cap of $13.25 billion, a P/E ratio of -9.51 and a beta of 1.19. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.71 and a current ratio of 4.71.

Snap Company Profile

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Snap, Inc operates as a camera company. Its flagship product, Snapchat, is a camera application that helps people communicate visually with friends and family through short videos and images called Snaps. The firm’s primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C.