GraniteShares Advisors LLC Has $581,000 Position in Snap Inc. (NYSE:SNAP)

GraniteShares Advisors LLC reduced its stake in shares of Snap Inc. (NYSE:SNAP) by 26.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,333 shares of the company’s stock after selling 12,357 shares during the quarter. GraniteShares Advisors LLC’s holdings in Snap were worth $581,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. ICA Group Wealth Management LLC acquired a new stake in Snap in the fourth quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. lifted its stake in Snap by 75.0% in the third quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock valued at $31,000 after acquiring an additional 1,500 shares during the last quarter. Allworth Financial LP lifted its stake in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after acquiring an additional 1,708 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Snap by 365.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company’s stock valued at $47,000 after purchasing an additional 3,094 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in shares of Snap in the first quarter valued at approximately $49,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Up 0.7 %

NYSE:SNAP traded up $0.07 during trading hours on Tuesday, reaching $10.42. 24,205,964 shares of the stock were exchanged, compared to its average volume of 29,048,719. Snap Inc. has a twelve month low of $7.86 and a twelve month high of $17.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The firm has a 50 day moving average of $11.20 and a 200 day moving average of $12.73. The stock has a market cap of $17.19 billion, a PE ratio of -12.55 and a beta of 1.13.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.39 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. On average, equities analysts expect that Snap Inc. will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Snap news, SVP Eric Young sold 120,472 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the transaction, the senior vice president now owns 3,540,852 shares in the company, valued at approximately $39,409,682.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the transaction, the chief accounting officer now owns 495,526 shares in the company, valued at $5,520,159.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Young sold 120,472 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the transaction, the senior vice president now owns 3,540,852 shares in the company, valued at approximately $39,409,682.76. The disclosure for this sale can be found here. Insiders have sold 470,054 shares of company stock worth $5,279,729 in the last 90 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SNAP shares. Piper Sandler boosted their target price on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Susquehanna upped their price target on shares of Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Snap from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. UBS Group reduced their price target on shares of Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company dropped their price objective on Snap from $22.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.65.

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.