Private Wealth Partners LLC Invests $221,000 in Snap Inc. (NYSE:SNAP)

Private Wealth Partners LLC purchased a new position in shares of Snap Inc. (NYSE:SNAP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 20,500 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds also recently made changes to their positions in SNAP. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Snap in the fourth quarter valued at $2,285,000. CIBC Asset Management Inc grew its stake in shares of Snap by 12.3% in the fourth quarter. CIBC Asset Management Inc now owns 53,524 shares of the company’s stock valued at $576,000 after buying an additional 5,876 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Snap by 3.5% in the fourth quarter. Sanctuary Advisors LLC now owns 84,978 shares of the company’s stock valued at $964,000 after buying an additional 2,835 shares in the last quarter. Blue Trust Inc. grew 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 valued at $47,000 after buying an additional 2,453 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of Snap by 213.3% in the fourth quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company’s stock valued at $91,000 after buying an additional 5,704 shares in the last quarter. 47.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SNAP. Cantor Fitzgerald raised their target price on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial raised their price target on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 price target (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. UBS Group raised their price target on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of Snap in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.87.

Snap Stock Down 1.0 %

SNAP stock opened at $10.68 on Friday. The company has a market cap of $18.11 billion, a PE ratio of -25.42 and a beta of 0.99. The business has a 50-day simple moving average of $11.21 and a 200 day simple moving average of $10.73. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47.

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

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 32,000 shares of Snap stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $12.42, for a total value of $397,440.00. Following the transaction, the chief accounting officer now owns 433,064 shares in the company, valued at $5,378,654.88. The trade was a 6.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Derek Andersen sold 61,334 shares of Snap 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 transaction, the chief financial officer now owns 3,564,235 shares in the company, valued at approximately $38,636,307.40. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 499,471 shares of company stock worth $5,608,926 over the last 90 days. 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.