Private Wealth Partners LLC Invests $221,000 in Snap Inc. (NYSE:SNAP)

Private Wealth Partners LLC purchased a new position in shares of Snap Inc. (NYSE:SNAP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,500 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after acquiring an additional 2,386,519 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after acquiring an additional 1,297,348 shares during the last quarter. Groupama Asset Managment bought a new stake in Snap in the third quarter valued at approximately $13,032,000. Assenagon Asset Management S.A. boosted its holdings in Snap by 51.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock valued at $33,244,000 after acquiring an additional 1,050,501 shares during the last quarter. Finally, Senvest Management LLC bought a new stake in Snap in the third quarter valued at approximately $10,064,000. 47.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on SNAP. BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 target price (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. Barclays reissued an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Cantor Fitzgerald boosted their price target on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Bank of America boosted their price target on Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped their price target on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $36.87.

Snap Trading Down 1.0 %

Shares of Snap stock opened at $10.68 on Friday. The stock has a fifty day simple moving average of $11.21 and a 200 day simple moving average of $10.73. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.33. The company has a market capitalization of $18.11 billion, a P/E ratio of -25.42 and a beta of 0.99. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last announced 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, sell-side analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, CFO Derek Andersen sold 61,334 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 3,564,235 shares in the company, valued at $38,636,307.40. This represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rebecca Morrow sold 32,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $12.42, for a total value of $397,440.00. Following the completion of the transaction, the chief accounting officer now owns 433,064 shares of the company’s stock, valued at $5,378,654.88. This trade represents a 6.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 499,471 shares of company stock worth $5,608,926 in the last quarter. 22.68% of the stock is currently owned by company insiders.

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.