SteelPeak Wealth LLC Lowers Stake in Snap Inc. (NYSE:SNAP)

SteelPeak Wealth LLC decreased its position in shares of Snap Inc. (NYSE:SNAP) by 26.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 12,492 shares of the company’s stock after selling 4,572 shares during the period. SteelPeak Wealth LLC’s holdings in Snap were worth $135,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in shares of Snap in the 3rd quarter valued at about $29,000. Paladin Wealth LLC acquired a new position in Snap during the third quarter valued at approximately $30,000. Advisors Asset Management Inc. grew its stake in Snap by 141.9% during 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 during the period. Brooklyn Investment Group acquired a new stake in shares of Snap in the third quarter worth $41,000. Finally, Blue Trust Inc. raised its stake in shares of Snap by 136.3% in the 4th quarter. Blue Trust Inc. now owns 4,529 shares of the company’s stock valued at $48,000 after acquiring an additional 2,612 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNAP. Citigroup increased their price target on Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Evercore ISI upped their price target on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Guggenheim restated a “buy” rating and issued a $12.11 target price on shares of Snap in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus dropped their price target on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Snap presently has an average rating of “Hold” and an average price target of $36.99.

Snap Stock Down 0.4 %

NYSE:SNAP opened at $11.31 on Friday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a 50 day moving average of $11.53 and a 200-day moving average of $10.99. The firm has a market capitalization of $18.96 billion, a PE ratio of -19.49 and a beta of 0.98. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.50.

Snap (NYSE:SNAP) last issued 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 firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.21) EPS. Analysts predict that Snap Inc. will post -0.39 EPS for the current year.

Insider Activity

In other news, CFO Derek Andersen sold 94,164 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of Snap stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.54, for a total transaction of $129,800.10. Following the sale, the general counsel now owns 1,195,567 shares in the company, valued at approximately $12,601,276.18. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 427,184 shares of company stock valued at $4,761,369. 22.68% of the stock is currently owned by company insiders.

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.