RiverPark Advisors LLC Has $1.15 Million Stock Holdings in Snap Inc. (NYSE:SNAP)

RiverPark Advisors LLC increased its position in shares of Snap Inc. (NYSE:SNAP) by 11.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,432 shares of the company’s stock after acquiring an additional 10,038 shares during the quarter. RiverPark Advisors LLC’s holdings in Snap were worth $1,153,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. NBC Securities Inc. lifted its stake in Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after buying an additional 1,445 shares during the period. Allworth Financial LP lifted its stake in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after buying an additional 1,708 shares during the period. ICA Group Wealth Management LLC acquired a new position in Snap in the fourth quarter valued at about $51,000. Rakuten Securities Inc. acquired a new position in Snap in the fourth quarter valued at about $73,000. Finally, Westpac Banking Corp lifted its stake in Snap by 108.7% in the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after buying an additional 2,506 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on SNAP shares. Canaccord Genuity Group increased their target price on Snap from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Susquehanna raised 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 increased their price objective on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Truist Financial increased their price objective on Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company increased their price objective on Snap from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.82.

Snap Stock Performance

Shares of NYSE SNAP traded up $0.25 during midday trading on Tuesday, hitting $16.75. 12,025,620 shares of the company’s stock were exchanged, compared to its average volume of 27,950,957. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. Snap Inc. has a 12 month low of $8.28 and a 12 month high of $17.90. The company’s 50 day moving average price is $15.88 and its 200 day moving average price is $14.13. The firm has a market capitalization of $27.49 billion, a PE ratio of -20.68 and a beta of 1.03.

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

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $14.27, for a total transaction of $14,270,000.00. Following the completion of the sale, the chief technology officer now directly owns 59,894,865 shares of the company’s stock, valued at approximately $854,699,723.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $14.27, for a total transaction of $14,270,000.00. Following the completion of the sale, the chief technology officer now directly owns 59,894,865 shares of the company’s stock, valued at approximately $854,699,723.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 8,913 shares of Snap stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.91, for a total value of $141,805.83. Following the sale, the chief accounting officer now directly owns 483,743 shares of the company’s stock, valued at $7,696,351.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,372,583 shares of company stock valued at $19,934,275.

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.