HCR Wealth Advisors Decreases Position in Snap Inc. (NYSE:SNAP)

HCR Wealth Advisors decreased its position in Snap Inc. (NYSE:SNAP) by 24.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,166 shares of the company’s stock after selling 7,377 shares during the period. HCR Wealth Advisors’ holdings in Snap were worth $385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. increased its stake in shares of Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after purchasing an additional 1,445 shares in the last quarter. Blue Trust Inc. grew its stake in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares in the last quarter. Rothschild Investment LLC bought a new stake in Snap during the 2nd quarter valued at $40,000. J.Safra Asset Management Corp raised its stake in shares of Snap by 534.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after purchasing an additional 2,330 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new position in Snap during the 4th quarter valued at about $51,000. 47.52% of the stock is owned by institutional investors.

Snap Stock Down 2.8 %

Snap stock opened at $8.62 on Monday. Snap Inc. has a 1-year low of $8.28 and a 1-year high of $17.90. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The firm has a 50-day moving average of $11.96 and a 200-day moving average of $12.94.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. On average, equities analysts expect that Snap Inc. will post -0.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNAP has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on shares of Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group cut their price target on shares of Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Argus raised shares of Snap to a “hold” rating in a report on Thursday, August 8th. HSBC lowered Snap from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Bank of America decreased their target price on Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Snap currently has an average rating of “Hold” and an average target price of $13.87.

Insider Activity

In other Snap news, Director Joanna Coles sold 3,950 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $15.17, for a total value of $59,921.50. Following the completion of the sale, the director now directly owns 46,492 shares in the company, valued at $705,283.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snap news, Director Joanna Coles sold 3,950 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $15.17, for a total value of $59,921.50. Following the completion of the transaction, the director now owns 46,492 shares in the company, valued at $705,283.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the sale, the chief technology officer now owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,356,370 shares of company stock valued at $12,151,603. Corporate 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.