SteelPeak Wealth LLC Has $183,000 Stake in Snap Inc. (NYSE:SNAP)

SteelPeak Wealth LLC decreased its stake in Snap Inc. (NYSE:SNAP) by 64.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,064 shares of the company’s stock after selling 30,629 shares during the quarter. SteelPeak Wealth LLC’s holdings in Snap were worth $183,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. GraniteShares Advisors LLC boosted its stake in Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after buying an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. boosted its stake in Snap by 2.7% in the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after purchasing an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in Snap by 4.0% in the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock worth $448,000 after purchasing an additional 1,048 shares in the last quarter. DMC Group LLC boosted its stake in Snap by 10.5% in the second quarter. DMC Group LLC now owns 15,583 shares of the company’s stock worth $259,000 after purchasing an additional 1,477 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SNAP. JPMorgan Chase & Co. reduced their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus cut their price target on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. JMP Securities cut their price target on Snap from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Wednesday. HSBC downgraded Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Wolfe Research assumed coverage on Snap in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Snap currently has an average rating of “Hold” and an average target price of $14.25.

Insiders Place Their Bets

In other news, Director Joanna Coles sold 6,434 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total value of $77,208.00. Following the transaction, the director now owns 54,761 shares in the company, valued at $657,132. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Joanna Coles sold 6,434 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total value of $77,208.00. Following the transaction, the director now owns 54,761 shares in the company, valued at $657,132. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $10.81, for a total value of $194,580.00. Following the completion of the transaction, the general counsel now owns 489,058 shares in the company, valued at $5,286,716.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,497,051 shares of company stock valued at $13,261,098. Corporate insiders own 22.68% of the company’s stock.

Snap Stock Performance

Shares of Snap stock opened at $12.53 on Friday. Snap Inc. has a one year low of $8.29 and a one year high of $17.90. The firm has a market capitalization of $20.79 billion, a price-to-earnings ratio of -21.60 and a beta of 1.01. The business has a 50-day simple moving average of $10.12 and a 200 day simple moving average of $12.69. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 35.63% and a negative net margin of 18.49%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. On average, research analysts anticipate that Snap Inc. will post -0.47 earnings per share for the current fiscal year.

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.