HCR Wealth Advisors Has $269,000 Holdings in Snap Inc. (NYSE:SNAP)

HCR Wealth Advisors grew its holdings in Snap Inc. (NYSE:SNAP) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,016 shares of the company’s stock after purchasing an additional 934 shares during the period. HCR Wealth Advisors’ holdings in Snap were worth $269,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SNAP. Marshall Wace LLP raised its holdings in shares of Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after acquiring an additional 12,533,653 shares in the last quarter. Geode Capital Management LLC increased its position in Snap by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after purchasing an additional 575,324 shares during the last quarter. TB Alternative Assets Ltd. raised its stake in shares of Snap by 105.6% during 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after buying an additional 2,386,519 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Snap by 49.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after buying an additional 1,297,348 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Stock Performance

NYSE SNAP opened at $11.23 on Friday. Snap Inc. has a twelve month low of $8.29 and a twelve month 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 market cap of $18.83 billion, a P/E ratio of -19.35 and a beta of 0.98. The company’s 50-day simple moving average is $11.55 and its 200 day simple moving average is $11.40.

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

Insider Buying and Selling at Snap

In other Snap news, CFO Derek Andersen sold 94,164 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the sale, the chief financial officer now directly owns 2,193,806 shares of the company’s stock, valued at approximately $25,097,140.64. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Young sold 112,020 shares of Snap stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the transaction, the senior vice president now owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,451,618 shares of company stock worth $17,560,157 over the last three months.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald raised their price objective on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial lifted their price objective on shares of Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Stifel Nicolaus cut their target price on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 price target on shares of Snap in a research report on Friday, January 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Snap in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus price target of $36.99.

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.