Corient Private Wealth LLC Sells 1,706 Shares of Snap Inc. (NYSE:SNAP)

Corient Private Wealth LLC lowered its stake in shares of Snap Inc. (NYSE:SNAP) by 3.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 48,488 shares of the company’s stock after selling 1,706 shares during the period. Corient Private Wealth LLC’s holdings in Snap were worth $522,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Snap during the 4th quarter valued at about $32,000. Brooklyn Investment Group bought a new stake in Snap in the third quarter valued at about $41,000. Blue Trust Inc. raised its position in Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after purchasing an additional 2,453 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in Snap during the fourth quarter worth about $54,000. Institutional investors own 47.52% of the company’s stock.

Snap Stock Down 3.2 %

Shares of NYSE:SNAP opened at $8.88 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of -21.13 and a beta of 0.92. The company has a 50 day moving average of $10.16 and a 200-day moving average of $10.81. Snap Inc. has a one year low of $8.29 and a one year high of $17.33.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, sell-side analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Snap in a research report on Thursday, December 5th. JMP Securities reissued a “market outperform” rating and set a $16.00 price objective on shares of Snap in a report on Monday, January 27th. Citigroup upped their target price on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Wells Fargo & Company downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $15.00 to $11.00 in a report on Wednesday, February 5th. Finally, Susquehanna upped their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.87.

Insider Buying and Selling

In related news, CAO Rebecca Morrow sold 8,837 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the transaction, the chief accounting officer now owns 429,892 shares in the company, valued at approximately $4,660,029.28. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 14,183 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $125,235.89. Following the completion of the sale, the general counsel now directly owns 2,256,101 shares of the company’s stock, valued at $19,921,371.83. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,350,523 shares of company stock valued at $12,698,797 over the last three months. Company 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.