DMC Group LLC Buys 2,549 Shares of Snap Inc. (NYSE:SNAP)

DMC Group LLC raised its stake in shares of Snap Inc. (NYSE:SNAP) by 16.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,132 shares of the company’s stock after purchasing an additional 2,549 shares during the quarter. DMC Group LLC’s holdings in Snap were worth $194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased its stake in Snap by 6.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after acquiring an additional 1,232 shares during the last quarter. Perpetual Ltd purchased a new stake in Snap in the first quarter worth approximately $273,000. Global Assets Advisory LLC bought a new position in Snap during the first quarter valued at approximately $129,000. Arkfeld Wealth Strategies L.L.C. purchased a new position in shares of Snap during the first quarter worth approximately $113,000. Finally, TB Alternative Assets Ltd. raised its stake in shares of Snap by 144.5% during the first quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock worth $58,488,000 after acquiring an additional 3,011,400 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total value of $239,040.00. Following the completion of the sale, the general counsel now owns 463,908 shares of the company’s stock, valued at $6,160,698.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,510,352 shares of company stock valued at $13,446,353. Insiders own 22.68% of the company’s stock.

Snap Stock Up 0.3 %

Shares of NYSE:SNAP opened at $10.49 on Friday. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.90. The stock has a market capitalization of $17.21 billion, a price-to-earnings ratio of -12.95 and a beta of 1.01. The stock has a fifty day simple moving average of $9.83 and a two-hundred day simple moving average of $12.71. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The firm 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.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Argus raised shares of Snap to a “hold” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price objective on shares of Snap in a report on Wednesday, September 18th. B. Riley began coverage on Snap in a report on Friday, September 20th. They set a “neutral” rating and a $11.00 target price for the company. Truist Financial decreased their price target on Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Finally, Benchmark reissued a “hold” rating on shares of Snap in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.77.

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.