Snap Inc. (NYSE:SNAP) Shares Purchased by Avaii Wealth Management LLC

Avaii Wealth Management LLC grew its stake in shares of Snap Inc. (NYSE:SNAP) by 16.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,444 shares of the company’s stock after acquiring an additional 2,625 shares during the period. Avaii Wealth Management LLC’s holdings in Snap were worth $312,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after acquiring an additional 1,708 shares during the last quarter. Rakuten Securities Inc. acquired a new position in shares of Snap in the fourth quarter worth $73,000. Harvest Fund Management Co. Ltd increased its stake in shares of Snap by 3,121.5% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 6,604 shares of the company’s stock worth $112,000 after acquiring an additional 6,399 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of Snap in the third quarter worth $91,000. Finally, Jacobi Capital Management LLC acquired a new position in Snap during the third quarter worth $92,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Price Performance

Shares of SNAP stock traded up $0.13 on Monday, reaching $14.68. The company had a trading volume of 28,625,010 shares, compared to its average volume of 31,783,453. The stock has a market capitalization of $24.23 billion, a PE ratio of -17.77 and a beta of 1.13. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap Inc. has a one year low of $7.86 and a one year high of $17.90. The business’s 50-day moving average is $11.26 and its 200 day moving average is $12.89.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Equities research analysts forecast that Snap Inc. will post -0.58 EPS for the current fiscal year.

Analyst Ratings Changes

SNAP has been the topic of several analyst reports. Evercore ISI increased their target price on shares of Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft raised shares of Snap from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. Stifel Nicolaus upped their price target on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Friday. Royal Bank of Canada upped their price target on shares of Snap from $13.00 to $16.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Wells Fargo & Company upped their price target on shares of Snap from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Friday. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Snap has an average rating of “Hold” and a consensus target price of $14.79.

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 that occurred on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the sale, the general counsel now owns 474,812 shares of the company’s stock, valued at approximately $5,474,582.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Eric Young sold 120,472 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the transaction, the senior vice president now directly owns 3,540,852 shares in the company, valued at approximately $39,409,682.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the transaction, the general counsel now owns 474,812 shares in the company, valued at $5,474,582.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 470,482 shares of company stock valued at $5,284,091.

Snap 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.