F M Investments LLC purchased a new position in shares of Snap Inc. in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,873 shares of the company’s stock, valued at approximately US$4,080,000. Snap makes up 3.2 per cent of F M Investments LLC’s holdings, making the stock its 8th largest holding.
Several other institutional investors also recently modified their holdings of SNAP. AdvisorNet Financial Inc increased its holdings in shares of Snap by 198.7 per cent during the first quarter. AdvisorNet Financial Inc now owns 708 shares of the company’s stock worth US$25,000 after buying an additional 471 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Snap in the first quarter valued at US$27,000. GHP Investment Advisors Inc. acquired a new stake in Snap in the first quarter valued at US$28,000. Meeder Asset Management Inc. increased its holdings in Snap by 1,189.2 per cent in the first quarter. Meeder Asset Management Inc. now owns 838 shares of the company’s stock valued at US$30,000 after purchasing an additional 773 shares during the period. Finally, MCF Advisors LLC acquired a new stake in Snap in the first quarter valued at US$36,000. 51.41 per cent of the stock is currently owned by institutional investors and hedge funds.
In other Snap news, CTO Robert C. Murphy sold 900,000 shares of the stock in a transaction dated Monday, October 24th. The shares were sold at an average price of US$7.56, for a total value of US$6,804,000.00. Following the completion of the sale, the chief technology officer now owns 72,701,841 shares in the company, valued at approximately US$549,625,917.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Evan Spiegel sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of US$7.54, for a total transaction of US$1,885,000.00. Following the completion of the sale, the chief executive officer now owns 4,077,844 shares in the company, valued at approximately US$30,746,943.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Robert C. Murphy sold 900,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of US$7.56, for a total transaction of US$6,804,000.00. Following the sale, the chief technology officer now owns 72,701,841 shares of the company’s stock, valued at approximately US$549,625,917.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,384,512 shares of company stock worth US$11,473,984.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on SNAP. Piper Sandler decreased their price objective on Snap from US$12.00 to US$9.00 and set a “neutral” rating for the company in a report on Friday, October 21st. Argus downgraded Snap from a “buy” rating to a “hold” rating in a report on Monday, July 25th. MKM Partners downgraded Snap from a “buy” rating to a “neutral” rating and decreased their price objective for the company from US$15.00 to US$10.00 in a report on Friday, October 21st. Canaccord Genuity Group decreased their price target on Snap from US$16.00 to US$12.00 and set a “hold” rating for the company in a report on Friday, October 21st. Finally, Susquehanna decreased their price target on Snap from US$11.00 to US$8.00 and set a “neutral” rating for the company in a report on Friday, October 21st. Three investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Snap has a consensus rating of “Hold” and a consensus price target of US$14.85.
Snap Trading Up 5.4 %
SNAP opened at US$10.08 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 5.65 and a current ratio of 4.86. The firm has a market cap of US$16.62 billion, a price-to-earnings ratio of -14.61 and a beta of 0.98. Snap Inc. has a 52 week low of US$7.33 and a 52 week high of US$57.14. The firm has a 50-day moving average price of US$10.70 and a two-hundred day moving average price of US$15.08.
Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.
