Atria Wealth Solutions Inc. Takes Position in Snap Inc. (NYSE:SNAP)

Atria Wealth Solutions Inc. bought a new stake in Snap Inc. (NYSE:SNAP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,802 shares of the company’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sowell Financial Services LLC increased its position in Snap by 3.3% during the 4th quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock worth $392,000 after purchasing an additional 729 shares in the last quarter. Impax Asset Management Group plc grew its holdings in Snap by 4.5% during the 3rd quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock worth $209,000 after acquiring an additional 1,017 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Snap by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock worth $137,000 after acquiring an additional 1,025 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Snap by 12.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,490 shares of the company’s stock worth $102,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after acquiring an additional 1,708 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Benchmark reissued a “hold” rating on shares of Snap in a report on Friday, April 26th. Rosenblatt Securities boosted their target price on shares of Snap from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. 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 report on Wednesday, January 17th. Truist Financial upped their price objective on shares of Snap from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, Morgan Stanley upped their price objective on shares of Snap from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.79.

Snap Trading Down 1.2 %

NYSE:SNAP opened at $16.54 on Friday. The stock has a market capitalization of $27.14 billion, a price-to-earnings ratio of -20.42 and a beta of 1.02. The firm has a fifty day simple moving average of $12.20 and a two-hundred day simple moving average of $13.26. Snap Inc. has a 12 month low of $8.28 and a 12 month high of $17.90. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. Analysts expect that Snap Inc. will post -0.46 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $15.10, for a total transaction of $271,800.00. Following the completion of the sale, the general counsel now owns 456,812 shares in the company, valued at $6,897,861.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $14.27, for a total value of $14,270,000.00. Following the completion of the transaction, the chief technology officer now directly owns 59,894,865 shares of the company’s stock, valued at $854,699,723.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $15.10, for a total value of $271,800.00. Following the sale, the general counsel now directly owns 456,812 shares of the company’s stock, valued at $6,897,861.20. The disclosure for this sale can be found here. Insiders have sold 1,475,482 shares of company stock worth $20,101,811 over the last 90 days. 22.68% of the stock is currently owned by corporate insiders.

Snap Company 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.