SteelPeak Wealth LLC Boosts Stock Position in Snap Inc. (NYSE:SNAP)

SteelPeak Wealth LLC grew its holdings in shares of Snap Inc. (NYSE:SNAP) by 50.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,513 shares of the company’s stock after purchasing an additional 28,523 shares during the period. SteelPeak Wealth LLC’s holdings in Snap were worth $970,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. grew its holdings in shares of Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after acquiring an additional 1,445 shares during the period. Allworth Financial LP grew its holdings in shares of Snap by 161.6% in the 4th 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 period. ICA Group Wealth Management LLC acquired a new stake in shares of Snap in the 4th quarter worth approximately $51,000. Rakuten Securities Inc. acquired a new stake in shares of Snap in the 4th quarter worth approximately $73,000. Finally, Westpac Banking Corp grew its holdings in shares of Snap by 108.7% in the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after acquiring an additional 2,506 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Trading Up 0.2 %

Shares of SNAP traded up $0.04 during trading hours on Friday, hitting $16.61. The stock had a trading volume of 19,872,004 shares, compared to its average volume of 17,463,060. The company has a debt-to-equity ratio of 1.55, a quick ratio of 3.76 and a current ratio of 3.76. The firm has a market cap of $27.26 billion, a P/E ratio of -20.51 and a beta of 1.07. The company’s fifty day simple moving average is $15.39 and its 200 day simple moving average is $14.17. Snap Inc. has a 12-month low of $8.28 and a 12-month high of $17.90.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.10. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. Equities research analysts forecast that Snap Inc. will post -0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Evercore ISI upped their price target on Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a report on Friday, April 26th. UBS Group lowered their price target on Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. TD Cowen increased their target price on Snap from $11.00 to $14.00 and gave the company a “hold” rating in a report on Friday, April 26th. Rosenblatt Securities increased their target price on Snap from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Finally, Canaccord Genuity Group increased their target price on Snap from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.82.

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $14.27, for a total value of $14,270,000.00. Following the completion of the sale, the chief technology officer now directly owns 59,894,865 shares in the company, valued at approximately $854,699,723.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $14.27, for a total value of $14,270,000.00. Following the completion of the sale, the chief technology officer now directly owns 59,894,865 shares in the company, valued at approximately $854,699,723.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joanna Coles sold 3,950 shares of the stock in a transaction on 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 owns 46,492 shares of the company’s stock, valued at $705,283.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,354,583 shares of company stock valued at $19,636,195. 22.68% of the stock is currently owned by company insiders.

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.