2,000 Shares in Snap Inc. (NYSE:SNAP) Bought by Hollencrest Capital Management

Hollencrest Capital Management acquired a new stake in shares of Snap Inc. (NYSE:SNAP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,000 shares of the company’s stock, valued at approximately $33,000.

Other large investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its position in shares of Snap by 2.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after acquiring an additional 891 shares during the last quarter. GraniteShares Advisors LLC raised its stake in shares of Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock worth $634,000 after purchasing an additional 941 shares during the period. Charles Schwab Investment Advisory Inc. raised its stake in shares of Snap by 2.7% during the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after purchasing an additional 956 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of Snap by 4.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock worth $448,000 after buying an additional 1,048 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in Snap by 6.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after buying an additional 1,232 shares during the period. 47.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SNAP shares. Bank of America dropped their target price on shares of Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Hsbc Global Res lowered Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Piper Sandler reissued a “neutral” rating and issued a $12.00 target price (down from $15.00) on shares of Snap in a research report on Friday, August 2nd. Citigroup dropped their price target on Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Truist Financial cut their price target on Snap from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.76.

Snap Stock Down 0.1 %

SNAP stock opened at $10.06 on Friday. Snap Inc. has a 1-year low of $8.28 and a 1-year high of $17.90. The stock has a market cap of $16.69 billion, a price-to-earnings ratio of -12.42 and a beta of 1.00. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The company’s 50 day moving average is $10.58 and its 200 day moving average is $12.81.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. Sell-side analysts predict that Snap Inc. will post -0.48 EPS for the current fiscal year.

Insider Activity at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $16.56, for a total value of $298,080.00. Following the completion of the transaction, the general counsel now directly owns 481,908 shares in the company, valued at approximately $7,980,396.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the completion of the sale, the general counsel now directly owns 481,908 shares in the company, valued at approximately $7,980,396.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Derek Andersen sold 97,608 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the completion of the sale, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at approximately $21,255,241.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,511,540 shares of company stock valued at $13,569,906 over the last 90 days. 22.68% of the stock is owned by insiders.

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.