Patriot Financial Group Insurance Agency LLC Takes $289,000 Position in Snap Inc. (NYSE:SNAP)

Patriot Financial Group Insurance Agency LLC purchased a new position in Snap Inc. (NYSE:SNAP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,806 shares of the company’s stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNAP. KBC Group NV raised its holdings in shares of Snap by 1.7% in the 4th quarter. KBC Group NV now owns 142,208 shares of the company’s stock worth $1,532,000 after buying an additional 2,427 shares in the last quarter. Blue Trust Inc. raised its stake in Snap by 136.3% during the fourth quarter. Blue Trust Inc. now owns 4,529 shares of the company’s stock worth $48,000 after acquiring an additional 2,612 shares in the last quarter. Gradient Investments LLC lifted its holdings in shares of Snap by 0.9% during the fourth quarter. Gradient Investments LLC now owns 142,144 shares of the company’s stock valued at $1,531,000 after acquiring an additional 1,310 shares during the period. HB Wealth Management LLC boosted its stake in shares of Snap by 7.7% in the 4th quarter. HB Wealth Management LLC now owns 21,187 shares of the company’s stock valued at $228,000 after purchasing an additional 1,513 shares in the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of Snap in the 4th quarter worth about $788,000. Institutional investors own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Snap from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price target on shares of Snap in a research report on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $16.00 price objective on shares of Snap in a research report on Monday. Wells Fargo & Company increased their target price on Snap from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Evercore ISI lifted their price target on Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.99.

Snap Stock Up 3.8 %

Shares of NYSE:SNAP opened at $11.62 on Thursday. The company has a 50 day moving average price of $11.52 and a two-hundred day moving average price of $11.03. The company has a market capitalization of $19.48 billion, a PE ratio of -20.03 and a beta of 0.98. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.50. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. Analysts forecast that Snap Inc. will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Derek Andersen sold 94,164 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the completion of the sale, the chief financial officer now directly owns 2,193,806 shares of the company’s stock, valued at approximately $25,097,140.64. This represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Young sold 112,020 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the sale, the senior vice president now owns 2,791,048 shares in the company, valued at $29,445,556.40. This trade represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 427,184 shares of company stock worth $4,761,369 over the last ninety days. 22.68% of the stock is currently owned by corporate insiders.

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.