Snap Inc. (NYSE:SNAP) Shares Purchased by FNY Investment Advisers LLC

FNY Investment Advisers LLC boosted its position in Snap Inc. (NYSE:SNAP) by 1,756.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,740 shares of the company’s stock after buying an additional 13,000 shares during the period. FNY Investment Advisers LLC’s holdings in Snap were worth $147,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in shares of Snap during the third quarter worth about $29,000. Paladin Wealth LLC acquired a new position in Snap during the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. raised its stake in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of Snap in the 2nd quarter valued at approximately $33,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Snap in the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Price Performance

Shares of NYSE:SNAP opened at $11.34 on Wednesday. The company has a market cap of $19.02 billion, a P/E ratio of -19.55 and a beta of 0.98. The business has a fifty day simple moving average of $11.57 and a 200-day simple moving average of $11.40. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.50. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) EPS. Equities research analysts forecast that Snap Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling

In other Snap news, Director Joanna Coles sold 6,434 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the sale, the director now owns 54,761 shares of the company’s stock, valued at approximately $657,132. The trade was a 10.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.54, for a total value of $129,800.10. Following the completion of the transaction, the general counsel now owns 1,195,567 shares in the company, valued at approximately $12,601,276.18. This trade represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,451,618 shares of company stock valued at $17,560,157. Insiders own 22.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SNAP. Loop Capital increased their price objective on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. B. Riley increased their price target on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 price objective on shares of Snap in a report on Wednesday, October 30th. Cantor Fitzgerald increased their target price on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Truist Financial boosted their price target on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Snap currently has an average rating of “Hold” and an average target price of $37.13.

About Snap

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.