Steward Partners Investment Advisory LLC Sells 4,054 Shares of Snap Inc. (NYSE:SNAP)

Steward Partners Investment Advisory LLC reduced its stake in Snap Inc. (NYSE:SNAP) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,311 shares of the company’s stock after selling 4,054 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Snap were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in shares of Snap in the 4th quarter valued at $330,000. Jones Financial Companies Lllp lifted its stake in Snap by 13.0% in the 4th quarter. Jones Financial Companies Lllp now owns 16,421 shares of the company’s stock valued at $177,000 after purchasing an additional 1,894 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in Snap in the 4th quarter valued at about $54,000. Versor Investments LP lifted its position in Snap by 252.0% during the fourth quarter. Versor Investments LP now owns 123,200 shares of the company’s stock worth $1,327,000 after acquiring an additional 88,200 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its position in Snap by 3.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock worth $335,000 after acquiring an additional 901 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Price Performance

SNAP stock opened at $8.37 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33. The firm’s fifty day moving average is $10.83 and its 200 day moving average is $10.80. The firm has a market cap of $14.19 billion, a P/E ratio of -19.92 and a beta of 0.92.

Snap (NYSE:SNAP) last announced its quarterly 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 net margin of 13.02% and a negative return on equity of 25.67%. Research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on SNAP. Bank of America raised their target price on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Susquehanna boosted their target price on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $16.00 price target (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. Finally, Barclays reaffirmed an “overweight” rating on shares of Snap in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Snap has a consensus rating of “Hold” and a consensus target price of $36.87.

Insider Transactions at Snap

In other news, CAO Rebecca Morrow sold 2,812 shares of Snap stock in a transaction that occurred on Monday, December 16th. The shares were 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 directly owns 430,252 shares in the company, valued at $4,922,082.88. The trade was a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction 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. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,449,168 shares of company stock valued at $14,033,679. Company insiders own 22.68% of the company’s stock.

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.