Cetera Investment Advisers Has $1.74 Million Stock Position in Snap Inc. (NYSE:SNAP)

Cetera Investment Advisers boosted its stake in shares of Snap Inc. (NYSE:SNAP) by 23.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,470 shares of the company’s stock after buying an additional 20,038 shares during the period. Cetera Investment Advisers’ holdings in Snap were worth $1,735,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SNAP. APG Asset Management N.V. boosted its position in shares of Snap by 3.9% in the second quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock worth $45,835,000 after buying an additional 112,135 shares during the period. V Square Quantitative Management LLC increased its position in Snap by 72.7% in the 4th quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after purchasing an additional 4,679 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Snap during the 1st quarter worth about $3,233,000. Marshall Wace LLP lifted its holdings in shares of Snap by 587.3% during the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after buying an additional 12,533,653 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Snap by 19.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,018,678 shares of the company’s stock valued at $50,145,000 after buying an additional 490,906 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Stock Performance

Snap stock opened at $11.06 on Tuesday. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The stock has a fifty day moving average price of $9.63 and a two-hundred day moving average price of $12.74. The firm has a market capitalization of $18.15 billion, a P/E ratio of -13.65 and a beta of 1.01.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. As a group, analysts anticipate that Snap Inc. will post -0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Truist Financial reduced their target price on shares of Snap from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. B. Riley assumed coverage on shares of Snap in a research note on Friday, September 20th. They issued a “neutral” rating and a $11.00 price objective for the company. Stifel Nicolaus lowered their target price on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday. Susquehanna reduced their price target on Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group lowered their price objective on Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.77.

Insider Activity at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Snap news, SVP Eric Young sold 114,097 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the transaction, the senior vice president now directly owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the sale, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,510,352 shares of company stock valued at $13,446,353 in the last three months. Corporate 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.