Savant Capital LLC Purchases New Stake in Snap Inc. (NYSE:SNAP)

Savant Capital LLC purchased a new stake in shares of Snap Inc. (NYSE:SNAP) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 289,049 shares of the company’s stock, valued at approximately $3,113,000.

Other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Snap during the third quarter valued at about $29,000. Paladin Wealth LLC purchased a new stake in shares of Snap in the third quarter worth about $30,000. Advisors Asset Management Inc. lifted its holdings in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Snap in the third quarter worth about $41,000. Finally, Blue Trust Inc. lifted its holdings in shares of Snap by 136.3% in the fourth quarter. Blue Trust Inc. now owns 4,529 shares of the company’s stock worth $48,000 after buying an additional 2,612 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNAP. Susquehanna increased their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Cantor Fitzgerald increased their price target on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Loop Capital increased their price target on shares of Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lowered their target price on shares of Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 target price on shares of Snap in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven 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 $36.87.

Insider Buying and Selling at Snap

In other news, CAO Rebecca Morrow sold 11,154 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $117,674.70. Following the sale, the chief accounting officer now owns 465,064 shares in the company, valued at approximately $4,906,425.20. The trade was a 2.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $11.49, for a total transaction of $206,820.00. Following the sale, the general counsel now owns 480,498 shares in the company, valued at approximately $5,520,922.02. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 443,518 shares of company stock valued at $4,947,981. 22.68% of the stock is currently owned by company insiders.

Snap Stock Performance

NYSE:SNAP opened at $10.90 on Wednesday. The company has a quick ratio of 4.04, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm’s fifty day simple moving average is $11.40 and its 200 day simple moving average is $10.78. The stock has a market cap of $18.27 billion, a P/E ratio of -25.94 and a beta of 0.99. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, research analysts predict that Snap Inc. will post -0.26 EPS for the current 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.