14,054 Shares in Snap Inc. (NYSE:SNAP) Purchased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC purchased a new stake in shares of Snap Inc. (NYSE:SNAP) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 14,054 shares of the company’s stock, valued at approximately $122,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital International Investors bought a new position in Snap during the fourth quarter valued at approximately $422,049,000. Capital World Investors increased its holdings in shares of Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after buying an additional 23,569,522 shares during the period. Norges Bank bought a new stake in shares of Snap in the 4th quarter valued at about $30,162,000. Renaissance Technologies LLC purchased a new stake in Snap during the 4th quarter valued at about $27,713,000. Finally, Portolan Capital Management LLC bought a new position in Snap during the 4th quarter worth approximately $25,447,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. The Goldman Sachs Group lowered their price objective on Snap from $9.50 to $8.50 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Citizens Jmp raised shares of Snap from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Wells Fargo & Company dropped their price target on shares of Snap from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. Cantor Fitzgerald set a $7.00 price target on shares of Snap and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Finally, Susquehanna lowered their price objective on shares of Snap from $13.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus price target of $35.62.

Snap Trading Down 4.2%

NYSE:SNAP opened at $7.95 on Monday. Snap Inc. has a one year low of $7.08 and a one year high of $17.33. The company’s 50-day simple moving average is $8.31 and its 200 day simple moving average is $9.80. The firm has a market capitalization of $13.29 billion, a P/E ratio of -18.94 and a beta of 0.59. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95.

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

Insider Transactions at Snap

In related news, SVP Eric Young sold 117,592 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $8.59, for a total value of $1,010,115.28. Following the transaction, the senior vice president now directly owns 3,348,290 shares of the company’s stock, valued at approximately $28,761,811.10. This represents a 3.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 24,000 shares of Snap stock in a transaction on Friday, May 30th. The stock was sold at an average price of $8.15, for a total value of $195,600.00. Following the completion of the sale, the general counsel now directly 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,561,232 shares of company stock valued at $12,902,065. Insiders own 22.68% of the company’s stock.

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.