SteelPeak Wealth LLC Increases Stock Holdings in Snap Inc. (NYSE:SNAP)

SteelPeak Wealth LLC boosted its holdings in shares of Snap Inc. (NYSE:SNAP) by 50.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,513 shares of the company’s stock after acquiring an additional 28,523 shares during the quarter. SteelPeak Wealth LLC’s holdings in Snap were worth $970,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SNAP. Kestra Advisory Services LLC boosted its holdings in Snap by 54.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 18,776 shares of the company’s stock valued at $167,000 after acquiring an additional 6,654 shares during the period. Northern Trust Corp boosted its holdings in Snap by 0.3% during the 3rd quarter. Northern Trust Corp now owns 4,091,981 shares of the company’s stock valued at $36,460,000 after acquiring an additional 10,583 shares during the period. California State Teachers Retirement System raised its position in Snap by 5.4% during the 3rd quarter. California State Teachers Retirement System now owns 1,344,975 shares of the company’s stock valued at $11,984,000 after purchasing an additional 69,509 shares in the last quarter. Alps Advisors Inc. raised its position in Snap by 29.7% during the 3rd quarter. Alps Advisors Inc. now owns 72,585 shares of the company’s stock valued at $647,000 after purchasing an additional 16,622 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new stake in Snap during the 3rd quarter valued at $2,582,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling

In other Snap news, Director Joanna Coles sold 3,950 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $15.17, for a total transaction of $59,921.50. Following the completion of the transaction, the director now owns 46,492 shares of the company’s stock, valued at $705,283.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Snap news, Director Joanna Coles sold 3,950 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $15.17, for a total transaction of $59,921.50. Following the completion of the transaction, the director now owns 46,492 shares of the company’s stock, valued at $705,283.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Young sold 115,915 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total value of $1,844,207.65. Following the transaction, the senior vice president now directly owns 3,292,657 shares of the company’s stock, valued at approximately $52,386,172.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,354,583 shares of company stock valued at $19,636,195. 22.68% of the stock is owned by company insiders.

Snap Stock Performance

Shares of SNAP traded up $0.04 during mid-day trading on Friday, reaching $16.61. The company had a trading volume of 19,872,004 shares, compared to its average volume of 17,463,060. Snap Inc. has a 52-week low of $8.28 and a 52-week high of $17.90. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $27.26 billion, a P/E ratio of -20.51 and a beta of 1.07. The stock has a 50 day moving average of $15.39 and a two-hundred day moving average of $14.17.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. On average, analysts expect that Snap Inc. will post -0.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SNAP shares. Wells Fargo & Company lifted their target price on Snap from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Susquehanna boosted their price target on Snap from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Stifel Nicolaus boosted their price target on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. The Goldman Sachs Group boosted their price target on Snap from $13.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Finally, Rosenblatt Securities boosted their price target on Snap from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.82.

Snap 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.