Leonteq Securities AG raised its position in Snap Inc. (NYSE:SNAP – Free Report) by 58.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 318,755 shares of the company’s stock after purchasing an additional 117,987 shares during the period. Leonteq Securities AG’s holdings in Snap were worth $1,466,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of SNAP. Allworth Financial LP grew its holdings in shares of Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after buying an additional 1,581 shares during the period. Oak Harvest Investment Services acquired a new stake in Snap during the 4th quarter worth $26,000. Arax Advisory Partners raised its stake in Snap by 220.0% during the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock worth $27,000 after buying an additional 2,275 shares during the period. V Square Quantitative Management LLC bought a new position in Snap during the fourth quarter worth about $29,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Snap by 561.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after acquiring an additional 3,071 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.
Snap Trading Down 0.1%
SNAP opened at $4.83 on Friday. The stock has a market capitalization of $8.16 billion, a P/E ratio of -20.14 and a beta of 1.05. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.67. Snap Inc. has a 12 month low of $3.81 and a 12 month high of $10.41. The firm’s fifty day simple moving average is $5.43 and its 200 day simple moving average is $5.85.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on SNAP shares. Rothschild & Co Redburn upgraded Snap from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Monday, April 27th. BMO Capital Markets lifted their price objective on Snap from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, April 15th. Freedom Capital cut Snap from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Wall Street Zen lowered Snap from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Truist Financial set a $8.00 target price on Snap in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty-three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.79.
View Our Latest Stock Report on Snap
Insider Activity at Snap
In related news, General Counsel Zachary M. Briers sold 129,493 shares of Snap stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.60, for a total value of $725,160.80. Following the sale, the general counsel owned 2,644,538 shares of the company’s stock, valued at approximately $14,809,412.80. This trade represents a 4.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Rebecca Morrow sold 16,729 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.60, for a total value of $93,682.40. Following the completion of the sale, the chief accounting officer owned 512,811 shares in the company, valued at $2,871,741.60. The trade was a 3.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 2,907,554 shares of company stock valued at $16,093,619 over the last ninety days. Company insiders own 22.68% of the company’s stock.
About Snap
Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.
Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.
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