Snap Inc. (NYSE:SNAP) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Snap Inc. (NYSE:SNAP) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,639 shares of the company’s stock after purchasing an additional 1,055 shares during the quarter. Empowered Funds LLC’s holdings in Snap were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. raised its position in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares during the period. Brooklyn Investment Group acquired a new stake in Snap in the 3rd quarter valued at approximately $41,000. Blue Trust Inc. increased its position in Snap by 136.3% in the 4th quarter. Blue Trust Inc. now owns 4,529 shares of the company’s stock valued at $48,000 after acquiring an additional 2,612 shares during the period. Quest Partners LLC acquired a new stake in Snap in the 3rd quarter valued at approximately $81,000. Finally, Founders Fund VI Management LLC acquired a new stake in Snap in the 3rd quarter valued at approximately $97,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SNAP shares. Evercore ISI raised their target price on Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $16.00 price target (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. JPMorgan Chase & Co. lowered their price target on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 5th. Truist Financial lifted their price target on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reiterated a “neutral” rating and set a $13.00 price target (up from $12.00) on shares of Snap in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.87.

Insider Buying and Selling

In related news, CAO Rebecca Morrow sold 2,812 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $32,169.28. Following the completion of the sale, the chief accounting officer now owns 430,252 shares of the company’s stock, valued at approximately $4,922,082.88. The trade was a 0.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Derek Andersen sold 94,164 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 $1,077,236.16. Following the transaction, the chief financial officer now directly owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,029 shares of company stock worth $2,991,695.

Snap Stock Performance

Shares of Snap stock opened at $10.79 on Thursday. The stock has a market cap of $18.30 billion, a PE ratio of -25.68 and a beta of 0.99. The business has a fifty day simple moving average of $11.22 and a 200-day simple moving average of $10.73. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, sell-side analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

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.