Victory Capital Management Inc. Purchases 4,808 Shares of Snap Inc. (NYSE:SNAP)

Victory Capital Management Inc. boosted its position in shares of Snap Inc. (NYSE:SNAP) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 286,080 shares of the company’s stock after acquiring an additional 4,808 shares during the period. Victory Capital Management Inc.’s holdings in Snap were worth $3,081,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in 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 acquiring an additional 1,632 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new stake in Snap during the 4th quarter valued at approximately $32,000. Brooklyn Investment Group purchased a new stake in Snap during the 3rd quarter valued at approximately $41,000. Blue Trust Inc. grew its holdings in Snap by 128.0% during the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock valued at $47,000 after buying an additional 2,453 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in Snap during the 4th quarter valued at approximately $54,000. Institutional investors own 47.52% of the company’s stock.

Snap Stock Up 3.2 %

NYSE:SNAP opened at $8.64 on Monday. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The company has a market cap of $14.65 billion, a price-to-earnings ratio of -20.56 and a beta of 0.92. The stock has a fifty day simple moving average of $10.71 and a 200-day simple moving average of $10.80. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share 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%. Analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

Wall Street Analyst Weigh In

SNAP has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price objective on shares of Snap in a report on Monday, January 27th. Citigroup increased their price objective on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Citizens Jmp lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut their price objective on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $36.87.

Insider Transactions at Snap

In related news, CAO Rebecca Morrow sold 8,837 shares of Snap stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the completion of the sale, the chief accounting officer now directly owns 429,892 shares in the company, valued at $4,660,029.28. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total value of $9,040,000.00. Following the completion of the sale, the chief technology officer now owns 55,818,548 shares of the company’s stock, valued at $504,599,673.92. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,295,231 shares of company stock worth $12,272,639. 22.68% of the stock is currently owned by insiders.

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.