Cetera Investment Advisers Increases Stock Position in Snap Inc. (NYSE:SNAP)

Cetera Investment Advisers boosted its stake in Snap Inc. (NYSE:SNAP) by 11.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,918 shares of the company’s stock after purchasing an additional 6,833 shares during the quarter. Cetera Investment Advisers’ holdings in Snap were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of SNAP. Raymond James Financial Inc. purchased a new stake in Snap in the fourth quarter valued at approximately $3,291,000. Canada Pension Plan Investment Board purchased a new stake in Snap in the fourth quarter valued at approximately $17,323,000. Capital International Investors purchased a new position in shares of Snap during the fourth quarter worth approximately $422,049,000. Forum Financial Management LP raised its stake in shares of Snap by 40.0% during the fourth quarter. Forum Financial Management LP now owns 24,571 shares of the company’s stock worth $265,000 after acquiring an additional 7,015 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after acquiring an additional 23,569,522 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Stock Performance

Shares of SNAP stock opened at $7.15 on Friday. Snap Inc. has a 12 month low of $7.06 and a 12 month high of $13.28. The stock has a market cap of $11.95 billion, a PE ratio of -22.34 and a beta of 0.62. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 1.73. The company’s fifty day moving average price is $8.78 and its 200-day moving average price is $8.97.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). Snap had a negative net margin of 9.69% and a negative return on equity of 23.32%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business posted ($0.15) EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $7.00 target price on shares of Snap in a report on Wednesday, August 6th. Citigroup cut shares of Snap from an “outperform” rating to a “negative” rating in a report on Tuesday, July 15th. Morgan Stanley raised their target price on shares of Snap from $6.50 to $8.50 and gave the stock an “equal weight” rating in a report on Monday, July 21st. The Goldman Sachs Group cut their target price on shares of Snap from $9.50 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Finally, Wells Fargo & Company raised their target price on shares of Snap from $8.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Snap presently has an average rating of “Hold” and an average target price of $34.16.

Insider Buying and Selling at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $7.80, for a total transaction of $7,800,000.00. Following the sale, the chief technology officer owned 53,215,224 shares in the company, valued at approximately $415,078,747.20. The trade was a 1.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Derek Andersen sold 33,886 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $8.04, for a total transaction of $272,443.44. Following the sale, the chief financial officer owned 3,204,418 shares in the company, valued at approximately $25,763,520.72. This trade represents a 1.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,202,570 shares of company stock worth $9,525,096. Corporate insiders own 22.68% of the company’s stock.

About Snap

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.