Tower Research Capital LLC TRC Has $123,000 Stake in Snap Inc. (NYSE:SNAP)

Tower Research Capital LLC TRC reduced its holdings in Snap Inc. (NYSE:SNAP) by 90.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,376 shares of the company’s stock after selling 112,551 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Snap were worth $123,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNAP. Mountain Hill Investment Partners Corp. bought a new position in shares of Snap in the fourth quarter valued at $27,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Snap in the fourth quarter valued at $32,000. Osterweis Capital Management Inc. bought a new position in shares of Snap in the 4th quarter valued at about $43,000. Blue Trust Inc. increased its stake in shares of Snap by 128.0% during the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after purchasing an additional 2,453 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in shares of Snap in the 4th quarter valued at about $54,000. 47.52% of the stock is owned by institutional investors.

Snap Stock Performance

Shares of SNAP opened at $8.22 on Friday. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm’s fifty day simple moving average is $8.55 and its two-hundred day simple moving average is $10.33. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $17.33. The stock has a market capitalization of $13.94 billion, a P/E ratio of -19.56 and a beta of 0.61.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the firm posted $0.03 earnings per share. Snap’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Insider Activity

In other Snap news, CAO Rebecca Morrow sold 8,837 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the completion of the sale, the chief accounting officer now owns 429,892 shares of the company’s stock, valued at approximately $4,660,029.28. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Derek Andersen sold 61,334 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $664,860.56. Following the transaction, the chief financial officer now directly owns 3,564,235 shares in the company, valued at $38,636,307.40. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,362,523 shares of company stock worth $20,719,017 in the last three months. Company insiders own 22.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SNAP shares. B. Riley lowered their price target on Snap from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Piper Sandler decreased their price objective on shares of Snap from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Rosenblatt Securities lowered their price target on shares of Snap from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Bank of America reduced their price objective on Snap from $14.50 to $10.50 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Finally, BMO Capital Markets dropped their target price on Snap from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Snap has a consensus rating of “Hold” and a consensus target price of $35.50.

Snap 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.