Commonwealth Equity Services LLC Has $1.28 Million Stock Position in Snap Inc. (NYSE:SNAP)

Commonwealth Equity Services LLC increased its position in shares of Snap Inc. (NYSE:SNAP – Get Rating) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,535 shares of the company’s stock after purchasing an additional 4,774 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Snap were worth $1,275,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SNAP. Vanguard Group Inc. increased its position in shares of Snap by 21.6% during the 3rd quarter. Vanguard Group Inc. now owns 90,476,082 shares of the company’s stock worth $888,475,000 after purchasing an additional 16,046,220 shares in the last quarter. Wellington Management Group LLP increased its holdings in Snap by 95.8% during the 1st quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock valued at $641,028,000 after purchasing an additional 8,712,380 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Snap by 55.7% during the 3rd quarter. Two Sigma Advisers LP now owns 21,895,177 shares of the company’s stock valued at $215,011,000 after purchasing an additional 7,831,100 shares in the last quarter. Two Sigma Investments LP increased its holdings in Snap by 51.5% during the 3rd quarter. Two Sigma Investments LP now owns 16,139,726 shares of the company’s stock valued at $158,492,000 after purchasing an additional 5,485,640 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Snap during the 1st quarter valued at $104,868,000. Institutional investors and hedge funds own 43.30% of the company’s stock.

Insider Activity at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $10.15, for a total transaction of $131,950.00. Following the completion of the sale, the general counsel now owns 491,330 shares of the company’s stock, valued at approximately $4,986,999.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $10.15, for a total transaction of $131,950.00. Following the completion of the sale, the general counsel now directly owns 491,330 shares in the company, valued at $4,986,999.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jerry James Hunter sold 69,753 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $10.95, for a total transaction of $763,795.35. Following the sale, the chief operating officer now owns 4,869,447 shares of the company’s stock, valued at $53,320,444.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 372,012 shares of company stock worth $3,536,695. Insiders own 22.68% of the company’s stock.

Snap Trading Up 0.3 %

Shares of NYSE:SNAP opened at $9.72 on Friday. Snap Inc. has a 52-week low of $7.33 and a 52-week high of $24.16. The company has a market capitalization of $15.57 billion, a P/E ratio of -11.17 and a beta of 1.19. The company has a 50-day simple moving average of $10.07 and a 200 day simple moving average of $10.05. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.71 and a current ratio of 4.71.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Snap from $10.00 to $9.00 in a research report on Friday, April 28th. UBS Group cut shares of Snap from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research report on Wednesday, February 1st. Credit Suisse Group lowered their price target on shares of Snap from $13.00 to $11.00 in a research report on Friday, April 28th. Barclays decreased their price objective on Snap from $15.00 to $11.00 in a research note on Friday, April 28th. Finally, Canaccord Genuity Group decreased their price objective on Snap from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, February 1st. Three equities research analysts have rated the stock with a sell rating, thirty have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.69.

About Snap

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Snap, Inc operates as a camera company. Its flagship product, Snapchat, is a camera application that helps people communicate visually with friends and family through short videos and images called Snaps. The firm’s primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C.