MML Investors Services LLC Has $270,000 Holdings in Snap Inc. (NYSE:SNAP)

MML Investors Services LLC lifted its stake in shares of Snap Inc. (NYSE:SNAP) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,245 shares of the company’s stock after buying an additional 1,614 shares during the quarter. MML Investors Services LLC’s holdings in Snap were worth $270,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Orion Portfolio Solutions LLC acquired a new stake in Snap in the third quarter worth $149,000. EP Wealth Advisors LLC boosted its position in shares of Snap by 15.2% during the 3rd quarter. EP Wealth Advisors LLC now owns 48,713 shares of the company’s stock worth $521,000 after purchasing an additional 6,413 shares in the last quarter. SYM FINANCIAL Corp acquired a new stake in shares of Snap in the 3rd quarter valued at about $168,000. Quantinno Capital Management LP increased its position in Snap by 51.5% in the 3rd quarter. Quantinno Capital Management LP now owns 87,685 shares of the company’s stock valued at $938,000 after buying an additional 29,806 shares in the last quarter. Finally, Prentice Capital Management LP raised its stake in Snap by 53.1% during the 3rd quarter. Prentice Capital Management LP now owns 576,834 shares of the company’s stock worth $6,172,000 after buying an additional 200,000 shares during the period. Institutional investors own 47.52% of the company’s stock.

Insider Transactions at Snap

In other news, CFO Derek Andersen sold 17,789 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $12.00, for a total transaction of $213,468.00. Following the completion of the transaction, the chief financial officer now owns 2,176,017 shares of the company’s stock, valued at approximately $26,112,204. The trade was a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 2,812 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the sale, the chief accounting officer now directly owns 430,252 shares in the company, valued at $4,922,082.88. This represents a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,451,618 shares of company stock valued at $17,559,617. 22.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SNAP. Piper Sandler reissued a “neutral” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. JMP Securities lowered their price objective on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating on the stock in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Snap in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of Snap in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $37.10.

Snap Stock Down 0.7 %

SNAP stock opened at $11.18 on Thursday. The stock has a 50-day simple moving average of $11.41 and a two-hundred day simple moving average of $11.85. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.75. The firm has a market capitalization of $18.75 billion, a PE ratio of -19.28 and a beta of 0.97. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last issued 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 company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. Snap’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.21) earnings per share. On average, equities analysts predict that Snap Inc. will post -0.4 EPS for the current fiscal year.

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.