Snap Inc. (NYSE:SNAP) Shares Sold by Atomi Financial Group Inc.

Atomi Financial Group Inc. reduced its position in shares of Snap Inc. (NYSE:SNAP) by 15.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,277 shares of the company’s stock after selling 4,121 shares during the period. Atomi Financial Group Inc.’s holdings in Snap were worth $251,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after purchasing an additional 2,386,519 shares during the last quarter. TB Alternative Assets Ltd. lifted its holdings in shares of Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after acquiring an additional 4,098,847 shares during the period. Aigen Investment Management LP purchased a new position in shares of Snap during the 3rd quarter worth about $1,345,000. Invenomic Capital Management LP purchased a new position in shares of Snap during the 3rd quarter worth about $2,349,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Snap during the 3rd quarter worth about $832,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total value of $195,120.00. Following the sale, the general counsel now directly owns 498,498 shares in the company, valued at approximately $5,403,718.32. This trade represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Derek Andersen sold 17,789 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.00, for a total value of $213,468.00. Following the completion of the sale, the chief financial officer now owns 2,176,017 shares in the company, valued at $26,112,204. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,451,618 shares of company stock worth $17,560,157. 22.68% of the stock is owned by insiders.

Snap Stock Up 3.0 %

SNAP stock opened at $10.90 on Monday. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.50. 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 capitalization of $18.27 billion, a P/E ratio of -18.78 and a beta of 0.98. The firm has a 50 day simple moving average of $11.48 and a 200-day simple moving average of $11.10.

Snap (NYSE:SNAP) last released its quarterly earnings results 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. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) earnings per share. On average, equities research analysts predict that Snap Inc. will post -0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SNAP has been the topic of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and set a $16.00 price objective on shares of Snap in a report on Friday, January 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 price objective on shares of Snap in a report on Wednesday, October 30th. UBS Group raised their price target on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. B. Riley raised their price target on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $16.00 price target (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.99.

Snap Company 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.