Cerity Partners LLC Lowers Stock Position in Snap Inc. (NYSE:SNAP)

Cerity Partners LLC cut its holdings in Snap Inc. (NYSE:SNAP) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,818 shares of the company’s stock after selling 16,390 shares during the quarter. Cerity Partners LLC’s holdings in Snap were worth $2,411,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SNAP. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Snap during the fourth quarter valued at approximately $27,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Snap in the 4th quarter worth $32,000. Blue Trust Inc. raised its stake in shares of 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 during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new position in shares of Snap in the fourth quarter worth $54,000. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Snap by 213.3% during the fourth quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company’s stock valued at $91,000 after purchasing an additional 5,704 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Insider Transactions at Snap

In other Snap news, CFO Derek Andersen sold 61,334 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $664,860.56. Following the completion of the sale, the chief financial officer now directly owns 3,564,235 shares of the company’s stock, valued at $38,636,307.40. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 8,837 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the transaction, the chief accounting officer now directly owns 429,892 shares in the company, valued at approximately $4,660,029.28. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,356,523 shares of company stock worth $12,710,077. 22.68% of the stock is currently owned by company insiders.

Snap Price Performance

Shares of Snap stock opened at $7.88 on Wednesday. The stock has a 50 day moving average price of $9.43 and a 200-day moving average price of $10.65. Snap Inc. has a one year low of $7.08 and a one year high of $17.33. The stock has a market cap of $13.36 billion, a price-to-earnings ratio of -18.75 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SNAP shares. Barclays restated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. UBS Group dropped their target price on shares of Snap from $14.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group decreased their target price on shares of Snap from $13.50 to $9.50 and set a “neutral” rating for the company in a research note on Monday. Citizens Jmp upgraded Snap from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. lowered their target price on Snap from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $36.00.

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.