Cerity Partners LLC Acquires 3,103 Shares of Snap Inc. (NYSE:SNAP)

Cerity Partners LLC raised its holdings in Snap Inc. (NYSE:SNAP) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 240,208 shares of the company’s stock after purchasing an additional 3,103 shares during the quarter. Cerity Partners LLC’s holdings in Snap were worth $2,570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNAP. Hollencrest Capital Management bought a new position in shares of Snap in the second quarter valued at about $33,000. Blue Trust Inc. grew its holdings in Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Snap in the 2nd quarter valued at about $40,000. V Square Quantitative Management LLC bought a new position in shares of Snap in the third quarter worth about $29,000. Finally, Paladin Wealth LLC acquired a new position in shares of Snap during the third quarter worth approximately $30,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

SNAP has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their price target on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald boosted their price objective on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. B. Riley raised their target price on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company dropped their price target on shares of Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Snap presently has an average rating of “Hold” and an average target price of $14.33.

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 59,053 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $548,602.37. Following the completion of the transaction, the general counsel now directly owns 1,258,278 shares in the company, valued at $11,689,402.62. This represents a 4.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joanna Coles sold 6,434 shares of Snap stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total value of $77,208.00. Following the completion of the sale, the director now directly owns 54,761 shares in the company, valued at approximately $657,132. This represents a 10.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,388,709 shares of company stock valued at $16,448,087 in the last ninety days. 22.68% of the stock is currently owned by corporate insiders.

Snap Trading Up 1.7 %

SNAP opened at $11.81 on Friday. The stock has a market capitalization of $19.81 billion, a P/E ratio of -20.36 and a beta of 0.99. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90. The firm’s fifty day simple moving average is $11.04 and its 200 day simple moving average is $12.31.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the firm earned ($0.21) earnings per share. Snap’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, research analysts anticipate that Snap Inc. will post -0.4 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.