PFG Investments LLC Raises Position in Snap Inc. (NYSE:SNAP)

PFG Investments LLC increased its holdings in shares of Snap Inc. (NYSE:SNAP) by 80.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,271 shares of the company’s stock after buying an additional 21,950 shares during the quarter. PFG Investments LLC’s holdings in Snap were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. TB Alternative Assets Ltd. raised its holdings in shares of Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after buying an additional 4,098,847 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in shares of Snap in the third quarter worth about $832,000. Exchange Traded Concepts LLC boosted its holdings in Snap by 38.7% in the third quarter. Exchange Traded Concepts LLC now owns 784,982 shares of the company’s stock valued at $8,399,000 after purchasing an additional 219,111 shares during the last quarter. APG Asset Management N.V. increased its holdings in Snap by 3.9% during the 2nd quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock worth $45,835,000 after purchasing an additional 112,135 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of Snap by 17.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 327,705 shares of the company’s stock valued at $3,506,000 after purchasing an additional 47,717 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the transaction, the general counsel now directly owns 489,058 shares of the company’s stock, valued at $5,286,716.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Snap news, CFO Derek Andersen sold 97,608 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the sale, the chief financial officer now owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $10.81, for a total value of $194,580.00. Following the completion of the sale, the general counsel now directly owns 489,058 shares of the company’s stock, valued at $5,286,716.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,508,617 shares of company stock worth $13,422,930 over the last ninety days.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNAP. Wolfe Research initiated coverage on shares of Snap in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. B. Riley initiated coverage on Snap in a research note on Friday, September 20th. They set a “neutral” rating and a $11.00 price objective on the stock. Benchmark reiterated a “hold” rating on shares of Snap in a research note on Friday. Argus raised shares of Snap to a “hold” rating in a report on Thursday, August 8th. Finally, The Goldman Sachs Group lowered their target price on Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.08.

Snap Stock Up 2.6 %

Shares of Snap stock opened at $10.72 on Tuesday. The stock has a 50-day moving average price of $9.94 and a 200 day moving average price of $12.69. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The company has a market cap of $17.79 billion, a P/E ratio of -14.89 and a beta of 1.01. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.90.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. As a group, analysts expect that Snap Inc. will post -0.47 EPS for the current fiscal year.

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.