Raymond James Financial Inc. Acquires New Shares in Snap Inc. (NYSE:SNAP)

Raymond James Financial Inc. acquired a new position in shares of Snap Inc. (NYSE:SNAP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 305,593 shares of the company’s stock, valued at approximately $3,291,000.

Several other large investors have also added to or reduced their stakes in SNAP. Charles Schwab Investment Management Inc. boosted its position in shares of Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after acquiring an additional 2,386,519 shares during the period. Groupama Asset Managment purchased a new stake in Snap in the 3rd quarter worth approximately $13,032,000. Assenagon Asset Management S.A. boosted its holdings in Snap by 51.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock valued at $33,244,000 after purchasing an additional 1,050,501 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Snap by 49.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock worth $28,245,000 after purchasing an additional 879,212 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Snap in the fourth quarter worth $7,614,000. Institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling

In other news, CAO Rebecca Morrow sold 8,837 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the sale, the chief accounting officer now directly owns 429,892 shares of the company’s stock, valued at $4,660,029.28. The trade was a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Derek Andersen sold 61,334 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $664,860.56. Following the transaction, the chief financial officer now directly owns 3,564,235 shares of the company’s stock, valued at approximately $38,636,307.40. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,350,523 shares of company stock valued at $12,698,797 over the last ninety days. Company insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SNAP. Guggenheim cut Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. Barclays reaffirmed an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. BMO Capital Markets restated an “outperform” rating and set a $16.00 price objective (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Wells Fargo & Company cut Snap from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $15.00 to $11.00 in a research note on Wednesday, February 5th. Finally, Susquehanna lifted their price target on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Snap presently has a consensus rating of “Hold” and an average price target of $36.87.

Snap Stock Down 2.5 %

Shares of NYSE SNAP opened at $9.17 on Friday. The firm has a fifty day simple moving average of $10.20 and a two-hundred day simple moving average of $10.79. The firm has a market capitalization of $15.56 billion, a PE ratio of -21.84 and a beta of 0.92. 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 Inc. has a 12 month low of $8.29 and a 12 month high of $17.33.

Snap (NYSE:SNAP) last posted its quarterly earnings data 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%. Equities analysts expect that Snap Inc. will post -0.3 earnings per share for the current year.

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.