Everence Capital Management Inc. Invests $437,000 in Snap Inc. (NYSE:SNAP)

Everence Capital Management Inc. purchased a new stake in Snap Inc. (NYSE:SNAP) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 40,550 shares of the company’s stock, valued at approximately $437,000.

Several other institutional investors also recently bought and sold shares of SNAP. Hollencrest Capital Management acquired a new stake in shares of Snap in the second quarter worth approximately $33,000. V Square Quantitative Management LLC acquired a new stake in Snap during the 3rd quarter worth $29,000. Paladin Wealth LLC purchased a new stake in shares of Snap during the third quarter worth $30,000. Advisors Asset Management Inc. raised its position in shares of 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 buying an additional 1,632 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Snap during the third quarter worth about $41,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Trading Up 6.5 %

Shares of NYSE:SNAP opened at $11.97 on Monday. The company has a market cap of $20.08 billion, a PE ratio of -20.64 and a beta of 0.98. The company’s 50 day moving average is $11.54 and its two-hundred day moving average is $11.63. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.75. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. Snap’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the firm earned ($0.21) earnings per share. Equities analysts predict that Snap Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNAP has been the topic of a number of research reports. The Goldman Sachs Group raised their target price on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Piper Sandler reissued a “neutral” rating and set a $13.00 price objective (up previously from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Roth Mkm reaffirmed a “neutral” rating and issued a $14.00 target price on shares of Snap in a research note on Wednesday, September 18th. Stifel Nicolaus lowered their price target on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Finally, Truist Financial lifted their target price on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. One research 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 MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.10.

Insider Activity at Snap

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total value of $195,120.00. Following the completion of the sale, the general counsel now directly owns 498,498 shares of the company’s stock, valued at $5,403,718.32. This represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joanna Coles sold 6,434 shares of Snap stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total value of $77,208.00. Following the transaction, the director now directly owns 54,761 shares in the company, valued at approximately $657,132. This trade represents a 10.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,451,618 shares of company stock valued at $17,560,157 over the last three months. 22.68% of the stock is 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.