Snap Inc. (NYSE:SNAP) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its stake in shares of Snap Inc. (NYSE:SNAP) by 52.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,602 shares of the company’s stock after buying an additional 15,375 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Snap were worth $480,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SNAP. Advisors Asset Management Inc. boosted its holdings in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Snap in the fourth quarter valued at approximately $32,000. Brooklyn Investment Group acquired a new position in Snap in the third quarter valued at approximately $41,000. Blue Trust Inc. boosted its holdings in Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock valued at $47,000 after purchasing an additional 2,453 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Snap in the third quarter valued at approximately $81,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Trading Up 0.8 %

NYSE:SNAP opened at $10.43 on Tuesday. The stock has a fifty day moving average price of $11.17 and a two-hundred day moving average price of $10.78. The stock has a market capitalization of $17.68 billion, a price-to-earnings ratio of -24.82 and a beta of 0.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Snap in a report on Thursday, December 5th. Cantor Fitzgerald boosted their price objective on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. B. Riley boosted their price objective on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Barclays reiterated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Finally, UBS Group boosted their price objective on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.87.

Insider Buying and Selling at Snap

In other Snap news, SVP Eric Young sold 102,152 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $1,107,327.68. Following the sale, the senior vice president now owns 3,443,419 shares of the company’s stock, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 32,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $12.42, for a total value of $397,440.00. Following the completion of the sale, the chief accounting officer now directly owns 433,064 shares in the company, valued at $5,378,654.88. This trade represents a 6.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 499,471 shares of company stock valued at $5,608,926. Insiders own 22.68% of the company’s stock.

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.