Cwm LLC Grows Stake in Snap Inc. $SNAP

Cwm LLC boosted its holdings in shares of Snap Inc. (NYSE:SNAP) by 50.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 387,935 shares of the company’s stock after purchasing an additional 130,172 shares during the quarter. Cwm LLC’s holdings in Snap were worth $2,991,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in Snap by 169.9% during the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock valued at $26,000 after buying an additional 1,852 shares in the last quarter. Quarry LP purchased a new position in Snap during the first quarter valued at $34,000. Blue Trust Inc. increased its holdings in Snap by 61.5% in the 2nd quarter. Blue Trust Inc. now owns 6,633 shares of the company’s stock valued at $58,000 after acquiring an additional 2,525 shares during the last quarter. Simon Quick Advisors LLC bought a new stake in Snap in the 2nd quarter valued at $100,000. Finally, Prospera Financial Services Inc purchased a new stake in Snap in the 2nd quarter worth $102,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SNAP shares. Citigroup raised their price objective on Snap from $8.50 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Guggenheim cut their price target on Snap from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, December 19th. Truist Financial lifted their price objective on Snap from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Stifel Nicolaus set a $7.00 target price on Snap in a research report on Thursday, November 6th. Finally, New Street Research lowered shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, October 28th. Three investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.88.

Insider Buying and Selling at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $8.00, for a total transaction of $8,000,000.00. Following the completion of the transaction, the chief technology officer directly owned 51,911,126 shares of the company’s stock, valued at approximately $415,289,008. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajit Mohan sold 109,372 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $8.34, for a total transaction of $912,162.48. Following the completion of the sale, the insider directly owned 5,326,801 shares in the company, valued at $44,425,520.34. This trade represents a 2.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,401,016 shares of company stock valued at $11,231,284. Insiders own 22.68% of the company’s stock.

Snap Trading Down 0.1%

Shares of SNAP stock opened at $8.06 on Friday. The company has a market cap of $13.86 billion, a PE ratio of -27.79 and a beta of 0.81. Snap Inc. has a 1 year low of $6.90 and a 1 year high of $13.28. The stock’s 50 day simple moving average is $7.86 and its two-hundred day simple moving average is $8.11. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.67 and a quick ratio of 3.67.

Snap (NYSE:SNAP) last released its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

About Snap

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.