Snap Inc. (NYSE:SNAP) Stock Position Lifted by LPL Financial LLC

LPL Financial LLC boosted its stake in shares of Snap Inc. (NYSE:SNAP – Get Rating) by 5.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 208,166 shares of the company’s stock after purchasing an additional 10,634 shares during the period. LPL Financial LLC’s holdings in Snap were worth $1,863,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fiduciary Alliance LLC bought a new stake in Snap in the fourth quarter worth approximately $26,000. Sonnipe Ltd bought a new stake in Snap in the fourth quarter worth approximately $30,000. Boit C F David bought a new stake in Snap in the third quarter worth approximately $34,000. Advisors Asset Management Inc. grew its position in Snap by 25.5% in the third quarter. Advisors Asset Management Inc. now owns 8,590 shares of the company’s stock worth $84,000 after acquiring an additional 1,747 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its position in Snap by 493.8% in the fourth quarter. FNY Investment Advisers LLC now owns 9,500 shares of the company’s stock worth $85,000 after acquiring an additional 7,900 shares in the last quarter. 43.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on SNAP shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Snap from $9.00 to $8.00 in a research report on Friday, April 28th. Truist Financial reduced their price objective on shares of Snap from $8.00 to $7.00 in a research note on Friday, April 28th. UBS Group cut shares of Snap from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research note on Wednesday, February 1st. Royal Bank of Canada reduced their price objective on shares of Snap from $10.00 to $9.00 in a research note on Friday, April 28th. Finally, TD Cowen boosted their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Three research analysts have rated the stock with a sell rating, thirty have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus price target of $11.69.

Snap Stock Up 0.4 %

Shares of NYSE:SNAP opened at $9.80 on Wednesday. Snap Inc. has a 12 month low of $7.33 and a 12 month high of $16.55. The company’s 50-day moving average price is $10.05 and its two-hundred day moving average price is $10.06. The company has a quick ratio of 4.71, a current ratio of 4.71 and a debt-to-equity ratio of 1.45. The firm has a market cap of $15.70 billion, a P/E ratio of -11.26 and a beta of 1.19.

Insiders Place Their Bets

In other Snap news, CAO Rebecca Morrow sold 5,617 shares of the company’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $10.69, for a total transaction of $60,045.73. Following the transaction, the chief accounting officer now directly owns 252,497 shares in the company, valued at approximately $2,699,192.93. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Rebecca Morrow sold 5,617 shares of the firm’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $10.69, for a total value of $60,045.73. Following the transaction, the chief accounting officer now owns 252,497 shares of the company’s stock, valued at approximately $2,699,192.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $11.13, for a total transaction of $144,690.00. Following the completion of the transaction, the general counsel now directly owns 478,330 shares in the company, valued at approximately $5,323,812.90. The disclosure for this sale can be found here. Insiders have sold a total of 372,012 shares of company stock valued at $3,536,695 in the last 90 days.

Snap Profile

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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.