C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes Position in Snap Inc. (NYSE:SNAP)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Snap Inc. (NYSE:SNAP) in the fourth quarter, HoldingsChannel reports. The fund bought 212,199 shares of the company’s stock, valued at approximately $2,285,000.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Snap during the 3rd quarter worth about $29,000. Advisors Asset Management Inc. raised its position 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 acquiring an additional 1,632 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in Snap during the fourth quarter worth approximately $32,000. Brooklyn Investment Group acquired a new position in Snap in the third quarter valued at approximately $41,000. Finally, Blue Trust Inc. increased its stake in Snap by 136.3% in the fourth quarter. Blue Trust Inc. now owns 4,529 shares of the company’s stock valued at $48,000 after purchasing an additional 2,612 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Trading Down 1.4 %

Snap stock opened at $10.72 on Thursday. The stock has a 50-day moving average price of $11.36 and a 200 day moving average price of $10.78. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33. The company has a current ratio of 3.95, a quick ratio of 4.04 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, analysts expect that Snap Inc. will post -0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Eric Young sold 50,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $10.54, for a total transaction of $527,000.00. Following the transaction, the senior vice president now directly owns 752,110 shares in the company, valued at approximately $7,927,239.40. This represents a 6.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $11.49, for a total value of $206,820.00. Following the completion of the sale, the general counsel now owns 480,498 shares of the company’s stock, valued at $5,520,922.02. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 443,518 shares of company stock valued at $4,947,981. Company insiders own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SNAP. UBS Group boosted their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, February 5th. Loop Capital raised their price objective on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Citizens Jmp downgraded Snap from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Barclays restated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.87.

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.