Destiny Wealth Partners LLC Has $1.42 Million Stock Position in Snap Inc. (NYSE:SNAP)

Destiny Wealth Partners LLC reduced its holdings in Snap Inc. (NYSE:SNAP) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,900 shares of the company’s stock after selling 2,929 shares during the period. Destiny Wealth Partners LLC’s holdings in Snap were worth $1,421,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SNAP. Charles Schwab Investment Management Inc. raised its holdings in shares of Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares in the last quarter. TB Alternative Assets Ltd. increased its position in Snap by 105.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Aigen Investment Management LP acquired a new position in Snap in the 3rd quarter worth about $1,345,000. Invenomic Capital Management LP purchased a new stake in shares of Snap during the 3rd quarter worth about $2,349,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Snap during the 3rd quarter valued at about $832,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Down 0.4 %

Shares of SNAP stock opened at $11.31 on Friday. Snap Inc. has a one year low of $8.29 and a one year high of $17.50. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a fifty day moving average price of $11.53 and a 200 day moving average price of $10.99.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) EPS. Research analysts anticipate that Snap Inc. will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the sale, the general counsel now owns 498,498 shares in the company, valued at $5,403,718.32. This trade represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Rebecca Morrow sold 11,154 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $117,674.70. Following the completion of the transaction, the chief accounting officer now owns 465,064 shares in the company, valued at approximately $4,906,425.20. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 427,184 shares of company stock valued at $4,761,369 over the last quarter. Corporate insiders own 22.68% of the company’s stock.

Analyst Ratings Changes

SNAP has been the topic of several recent research reports. Bank of America raised their price objective on shares of Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald raised their price target on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $16.00 price objective on shares of Snap in a report on Monday, January 27th. Canaccord Genuity Group raised their target price on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, UBS Group upped their price target on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Snap currently has a consensus rating of “Hold” and a consensus price target of $36.99.

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.