Kovack Advisors Inc. Has $353,000 Position in Snap Inc. (NYSE:SNAP)

Kovack Advisors Inc. raised its holdings in Snap Inc. (NYSE:SNAP) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,995 shares of the company’s stock after acquiring an additional 2,265 shares during the quarter. Kovack Advisors Inc.’s holdings in Snap were worth $353,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in shares of Snap during the 3rd quarter valued at $29,000. Paladin Wealth LLC acquired a new position in Snap during the third quarter worth $30,000. Hollencrest Capital Management bought a new position in Snap during the second quarter valued at about $33,000. Blue Trust Inc. lifted its position in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after buying an additional 1,682 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of Snap during the 2nd quarter worth about $40,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snap

In other news, Director Joanna Coles sold 6,434 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total transaction of $77,208.00. Following the sale, the director now owns 54,761 shares in the company, valued at approximately $657,132. This represents a 10.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.31, for a total value of $221,580.00. Following the completion of the sale, the general counsel now owns 471,058 shares of the company’s stock, valued at approximately $5,798,723.98. This trade represents a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,221,220 shares of company stock valued at $14,659,201. 22.68% of the stock is owned by insiders.

Snap Stock Down 1.4 %

NYSE SNAP opened at $10.61 on Friday. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.90. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock’s 50 day moving average is $10.68 and its two-hundred day moving average is $12.69. The company has a market capitalization of $17.79 billion, a price-to-earnings ratio of -18.28 and a beta of 0.99.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm earned ($0.21) EPS. Snap’s quarterly revenue was up 15.4% on a year-over-year basis. Equities analysts forecast that Snap Inc. will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNAP has been the topic of a number of recent analyst reports. Morgan Stanley raised Snap from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $12.00 to $16.00 in a research note on Tuesday, July 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price target on shares of Snap in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 target price on shares of Snap in a research note on Wednesday, September 18th. Piper Sandler reissued a “neutral” rating and set a $13.00 target price (up previously from $12.00) on shares of Snap in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus decreased their price target on shares of Snap from $13.00 to $11.00 and set a “hold” rating for the company in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.31.

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.