Rhumbline Advisers Has $1.67 Million Position in Snap Inc. (NYSE:SNAP)

Rhumbline Advisers grew its stake in Snap Inc. (NYSE:SNAP) by 10.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 192,210 shares of the company’s stock after purchasing an additional 17,868 shares during the quarter. Rhumbline Advisers’ holdings in Snap were worth $1,674,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Checchi Capital Advisers LLC increased its holdings in Snap by 3.0% in the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock valued at $335,000 after purchasing an additional 901 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Snap by 8.0% during the 4th quarter. Captrust Financial Advisors now owns 13,918 shares of the company’s stock worth $150,000 after buying an additional 1,030 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Snap by 1.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock valued at $661,000 after acquiring an additional 1,033 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock valued at $384,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Trajan Wealth LLC raised its position in shares of Snap by 5.9% in the 4th quarter. Trajan Wealth LLC now owns 20,191 shares of the company’s stock valued at $217,000 after acquiring an additional 1,132 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Stock Performance

SNAP opened at $8.19 on Wednesday. The business’s 50-day simple moving average is $8.32 and its 200 day simple moving average is $9.77. Snap Inc. has a 52-week low of $7.08 and a 52-week high of $17.33. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.30 and a current ratio of 4.30. The firm has a market capitalization of $13.69 billion, a PE ratio of -26.42 and a beta of 0.59.

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 for the quarter, compared to analyst estimates of $1.35 billion. Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $0.03 EPS. As a group, sell-side analysts expect that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $7.74, for a total transaction of $185,760.00. Following the transaction, the general counsel now owns 483,660 shares of the company’s stock, valued at $3,743,528.40. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Young sold 117,592 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $8.59, for a total value of $1,010,115.28. Following the completion of the sale, the senior vice president now directly owns 3,348,290 shares of the company’s stock, valued at approximately $28,761,811.10. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,561,232 shares of company stock worth $12,902,065.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citizens Jmp upgraded shares of Snap from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. Guggenheim reissued a “neutral” rating on shares of Snap in a report on Wednesday, April 2nd. B. Riley dropped their price objective on Snap from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. Piper Sandler decreased their target price on Snap from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, Bank of America dropped their price target on Snap from $14.50 to $10.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.62.

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.