DMC Group LLC Makes New Investment in Snap Inc. (NYSE:SNAP)

DMC Group LLC bought a new position in Snap Inc. (NYSE:SNAP) during the first quarter, Holdings Channel.com reports. The institutional investor bought 14,106 shares of the company’s stock, valued at approximately $162,000.

A number of other institutional investors have also added to or reduced their stakes in SNAP. NBC Securities Inc. boosted 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 purchasing an additional 1,445 shares in the last quarter. Allworth Financial LP boosted 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 purchasing an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Snap in the 4th quarter worth about $51,000. Rakuten Securities Inc. purchased a new position in shares of Snap in the 4th quarter worth about $73,000. Finally, Westpac Banking Corp boosted 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 purchasing an additional 2,506 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Insider Transactions at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer now owns 59,894,865 shares of the company’s stock, valued at approximately $854,699,723.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Derek Andersen sold 26,682 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $15.72, for a total transaction of $419,441.04. Following the completion of the transaction, the chief financial officer now owns 2,508,007 shares of the company’s stock, valued at approximately $39,425,870.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $14.27, for a total value of $14,270,000.00. Following the transaction, the chief technology officer now directly owns 59,894,865 shares of the company’s stock, valued at approximately $854,699,723.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,372,583 shares of company stock valued at $19,934,275.

Snap Trading Down 3.1 %

Shares of NYSE:SNAP opened at $15.75 on Thursday. Snap Inc. has a 52-week low of $8.28 and a 52-week high of $17.90. The stock has a 50 day moving average price of $15.68 and a 200-day moving average price of $14.17. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SNAP shares. Wells Fargo & Company upped their price objective on Snap from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Benchmark restated a “hold” rating on shares of Snap in a report on Friday, April 26th. Barclays increased their target price on Snap from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, April 26th. 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. Finally, Susquehanna increased their target price on Snap from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.82.

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.