C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes Position in Snap Inc. (NYSE:SNAP)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Snap Inc. (NYSE:SNAP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 212,199 shares of the company’s stock, valued at approximately $2,285,000.

A number of other large investors also recently added to or reduced their stakes in SNAP. CWM LLC increased its stake in shares of Snap by 17.4% during the third quarter. CWM LLC now owns 114,689 shares of the company’s stock worth $1,227,000 after purchasing an additional 16,968 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Snap by 515.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,000 shares of the company’s stock worth $86,000 after buying an additional 6,700 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Snap by 17.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 327,705 shares of the company’s stock worth $3,506,000 after buying an additional 47,717 shares in the last quarter. nVerses Capital LLC raised its holdings in shares of Snap by 277.2% during the third quarter. nVerses Capital LLC now owns 81,100 shares of the company’s stock valued at $868,000 after acquiring an additional 59,600 shares during the last quarter. Finally, Avaii Wealth Management LLC lifted its position in shares of Snap by 271.9% in the third quarter. Avaii Wealth Management LLC now owns 43,037 shares of the company’s stock valued at $461,000 after acquiring an additional 31,465 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $11.49, for a total transaction of $206,820.00. Following the completion of the transaction, the general counsel now directly owns 480,498 shares of the company’s stock, valued at $5,520,922.02. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Derek Andersen sold 94,164 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the sale, the chief financial officer now owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 443,518 shares of company stock worth $4,947,981 over the last three months. Company insiders own 22.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SNAP shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 price target on shares of Snap in a research report on Wednesday, October 30th. B. Riley upped their target price on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $15.00 to $11.00 in a research note on Wednesday, February 5th. Citizens Jmp lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.87.

Snap Trading Down 1.4 %

Shares of NYSE SNAP opened at $10.72 on Thursday. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 4.04. The business’s 50 day moving average is $11.36 and its two-hundred day moving average is $10.78. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.33.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) 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%. As a group, equities research analysts predict that Snap Inc. will post -0.26 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.