Wealth Enhancement Advisory Services LLC Boosts Stake in Snap Inc. (NYSE:SNAP)

Wealth Enhancement Advisory Services LLC lifted its holdings in Snap Inc. (NYSE:SNAP) by 20.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,323 shares of the company’s stock after buying an additional 2,395 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Snap were worth $153,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in Snap in the third quarter worth $29,000. Paladin Wealth LLC bought a new stake in shares of Snap during the 3rd quarter worth $30,000. Hollencrest Capital Management purchased a new position in shares of Snap in the 2nd quarter worth about $33,000. Blue Trust Inc. grew its position in Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in Snap during the second quarter worth about $40,000. 47.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Hsbc Global Res downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Barclays lowered their target price on Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Benchmark reiterated a “hold” rating on shares of Snap in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $14.00 price objective on shares of Snap in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. cut their target price on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snap presently has an average rating of “Hold” and an average price target of $14.31.

Snap Stock Down 6.0 %

SNAP opened at $11.24 on Wednesday. The business’s fifty day simple moving average is $10.56 and its 200 day simple moving average is $12.74. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. 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 $18.85 billion, a PE ratio of -19.38 and a beta of 0.99.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.21) EPS. As a group, research analysts expect that Snap Inc. will post -0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the transaction, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Eric Young sold 114,097 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were 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 owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the sale, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at $715,137,362.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,365,051 shares of company stock valued at $15,965,178. 22.68% of the stock is currently owned by corporate 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.