NBC Securities Inc. Acquires 3,093 Shares of Snap Inc. (NYSE:SNAP)

NBC Securities Inc. increased its stake in shares of Snap Inc. (NYSE:SNAP) by 154,650.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,095 shares of the company’s stock after acquiring an additional 3,093 shares during the quarter. NBC Securities Inc.’s holdings in Snap were worth $26,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Mountain Hill Investment Partners Corp. bought a new stake in shares of Snap in the fourth quarter valued at about $27,000. Raiffeisen Bank International AG acquired a new stake in shares of Snap during the 4th quarter worth approximately $30,000. Osterweis Capital Management Inc. acquired a new position in shares of Snap in the fourth quarter valued at $43,000. Blue Trust Inc. lifted its position in Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after purchasing an additional 2,453 shares during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in Snap during the fourth quarter worth $54,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Trading Down 4.2%

Shares of SNAP stock opened at $7.95 on Friday. Snap Inc. has a 12-month low of $7.08 and a 12-month high of $17.33. The firm has a 50 day moving average price of $8.31 and a two-hundred day moving average price of $9.82. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $13.29 billion, a PE ratio of -18.94 and a beta of 0.59.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.12). The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 EPS. As a group, analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Activity

In other Snap news, General Counsel Michael J. O’sullivan sold 24,000 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $8.15, for a total transaction of $195,600.00. Following the completion of the transaction, the general counsel now owns 521,790 shares of the company’s stock, valued at approximately $4,252,588.50. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $8.03, for a total transaction of $8,030,000.00. Following the sale, the chief technology officer now directly owns 54,517,308 shares in the company, valued at approximately $437,773,983.24. The trade was a 1.80% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,611,593 shares of company stock worth $13,346,752. 22.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SNAP shares. Piper Sandler lowered their price objective on Snap from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Guggenheim reissued a “neutral” rating on shares of Snap in a report on Wednesday, April 2nd. JMP Securities set a $12.00 target price on shares of Snap in a report on Friday, April 25th. Citizens Jmp upgraded shares of Snap from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Snap from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.62.

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.