OneDigital Investment Advisors LLC Makes New Investment in Snap Inc. (NYSE:SNAP)

OneDigital Investment Advisors LLC bought a new position in shares of Snap Inc. (NYSE:SNAP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,411 shares of the company’s stock, valued at approximately $122,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Marshall Wace LLP raised its holdings in shares of Snap by 587.3% in the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after acquiring an additional 12,533,653 shares in the last quarter. TB Alternative Assets Ltd. raised its holdings in shares of Snap by 105.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Snap by 19.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,018,678 shares of the company’s stock worth $50,145,000 after purchasing an additional 490,906 shares during the period. APG Asset Management N.V. lifted its position in shares of Snap by 3.9% in the 2nd quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock worth $45,835,000 after purchasing an additional 112,135 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Snap by 74.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock valued at $46,913,000 after purchasing an additional 1,201,565 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Insiders Place Their Bets

In other Snap news, CAO Rebecca Morrow sold 11,154 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the transaction, the chief accounting officer now directly owns 465,064 shares of the company’s stock, valued at approximately $4,906,425.20. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Derek Andersen sold 97,608 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction of $906,778.32. Following the sale, the chief financial officer now directly owns 2,287,970 shares in the company, valued at $21,255,241.30. The trade was a 4.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,406,709 shares of company stock valued at $16,615,487. Company insiders own 22.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Loop Capital boosted their price objective on shares of Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm reissued a “neutral” rating and issued a $14.00 price target on shares of Snap in a research report on Wednesday, September 18th. Bank of America raised their price objective on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Argus upgraded shares of Snap to a “hold” rating in a report on Thursday, August 8th. Finally, JMP Securities decreased their price target on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Snap has an average rating of “Hold” and an average target price of $14.31.

Snap Price Performance

Shares of NYSE:SNAP opened at $11.42 on Friday. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.90. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The company has a market cap of $19.15 billion, a PE ratio of -19.69 and a beta of 0.99. The company’s 50 day moving average is $10.85 and its 200 day moving average is $12.50.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business earned ($0.21) earnings per share. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, sell-side analysts forecast that Snap Inc. will post -0.4 EPS for the current 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.