LPL Financial LLC Has $1.86 Million Position in Snap Inc. (NYSE:SNAP)

LPL Financial LLC raised its stake in Snap Inc. (NYSE:SNAP – Get Rating) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 208,166 shares of the company’s stock after purchasing an additional 10,634 shares during the period. LPL Financial LLC’s holdings in Snap were worth $1,863,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D boosted its position in shares of Snap by 2.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 692,306 shares of the company’s stock valued at $6,196,000 after acquiring an additional 19,755 shares during the period. Geneos Wealth Management Inc. lifted its position in Snap by 25.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 23,503 shares of the company’s stock worth $210,000 after purchasing an additional 4,705 shares during the period. Gradient Investments LLC lifted its position in Snap by 20.5% during the fourth quarter. Gradient Investments LLC now owns 335,613 shares of the company’s stock worth $3,004,000 after purchasing an additional 57,093 shares during the period. Brighton Jones LLC lifted its position in Snap by 19.4% during the third quarter. Brighton Jones LLC now owns 18,082 shares of the company’s stock worth $178,000 after purchasing an additional 2,943 shares during the period. Finally, Profund Advisors LLC lifted its position in Snap by 1.1% during the fourth quarter. Profund Advisors LLC now owns 101,668 shares of the company’s stock worth $910,000 after purchasing an additional 1,060 shares during the period. 43.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap

In other Snap 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 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 is available through this hyperlink. In other Snap 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 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 is available through this hyperlink. Also, CFO Derek Andersen sold 49,200 shares of the firm’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $10.96, for a total value of $539,232.00. Following the sale, the chief financial officer now directly owns 2,510,236 shares of the company’s stock, valued at $27,512,186.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 372,012 shares of company stock worth $3,536,695.

Analyst Ratings Changes

Several research firms recently weighed in on SNAP. The Goldman Sachs Group cut their price objective on shares of Snap from $8.00 to $7.00 in a research report on Friday, April 28th. Susquehanna upped their price objective on shares of Snap from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 1st. TD Cowen upped their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a “market perform” rating in a research report on Monday, April 17th. Royal Bank of Canada lowered their target price on Snap from $10.00 to $9.00 in a research note on Friday, April 28th. Finally, Barclays lowered their target price on Snap from $15.00 to $11.00 in a research note on Friday, April 28th. Three investment analysts have rated the stock with a sell rating, thirty have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $11.69.

Snap Price Performance

Shares of NYSE:SNAP opened at $9.80 on Wednesday. The company has a current ratio of 4.71, a quick ratio of 4.71 and a debt-to-equity ratio of 1.45. The stock’s fifty day simple moving average is $10.05 and its two-hundred day simple moving average is $10.06. Snap Inc. has a 1-year low of $7.33 and a 1-year high of $16.55. The stock has a market cap of $15.70 billion, a PE ratio of -11.26 and a beta of 1.19.

Snap 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.