HCR Wealth Advisors Purchases 2,244 Shares of Snap Inc. (NYSE:SNAP)

HCR Wealth Advisors boosted its holdings in shares of Snap Inc. (NYSE:SNAP) by 11.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,064 shares of the company’s stock after acquiring an additional 2,244 shares during the period. HCR Wealth Advisors’ holdings in Snap were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNAP. Handelsbanken Fonder AB increased its position in shares of Snap by 10.5% during the first quarter. Handelsbanken Fonder AB now owns 466,152 shares of the company’s stock worth $5,226,000 after acquiring an additional 44,429 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Snap by 1.5% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 630,069 shares of the company’s stock valued at $7,063,000 after purchasing an additional 9,096 shares during the period. NVP Associates LLC acquired a new stake in shares of Snap in the 2nd quarter valued at about $41,000. Brighton Jones LLC lifted its holdings in shares of Snap by 101.4% in the first quarter. Brighton Jones LLC now owns 20,367 shares of the company’s stock valued at $228,000 after purchasing an additional 10,254 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Snap by 46.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 416,197 shares of the company’s stock worth $4,666,000 after buying an additional 131,308 shares during the period. 44.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $10.33, for a total value of $134,290.00. Following the completion of the transaction, the general counsel now directly owns 495,584 shares in the company, valued at $5,119,382.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Snap news, CFO Derek Andersen sold 28,346 shares of Snap stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $8.87, for a total transaction of $251,429.02. Following the transaction, the chief financial officer now directly owns 2,343,530 shares of the company’s stock, valued at approximately $20,787,111.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $10.33, for a total value of $134,290.00. Following the completion of the sale, the general counsel now owns 495,584 shares in the company, valued at approximately $5,119,382.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,452,126 shares of company stock worth $13,333,583. Corporate insiders own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company cut their target price on Snap from $9.00 to $8.00 in a research note on Friday, October 6th. JPMorgan Chase & Co. increased their target price on shares of Snap from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Wednesday, October 25th. China Renaissance upgraded shares of Snap from a “sell” rating to a “hold” rating and set a $9.00 price target on the stock in a research note on Thursday, October 26th. Morgan Stanley increased their price objective on shares of Snap from $6.50 to $7.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 25th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $10.00 target price on shares of Snap in a research note on Friday, October 13th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.52.

Snap Trading Down 1.1 %

Shares of SNAP stock opened at $12.07 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 4.83 and a current ratio of 4.83. Snap Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $13.89. The company has a market cap of $19.87 billion, a PE ratio of -14.03 and a beta of 1.20. The stock’s fifty day moving average price is $9.60 and its two-hundred day moving average price is $10.16.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 24th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.11 billion. Snap had a negative net margin of 29.99% and a negative return on equity of 44.24%. Equities analysts predict that Snap Inc. will post -0.79 EPS for the current fiscal year.

Snap Company Profile

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.