Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 12,867 Shares of Snap Inc. (NYSE:SNAP)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its holdings in Snap Inc. (NYSE:SNAP) by 4.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 272,473 shares of the company’s stock after selling 12,867 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Snap were worth $2,935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNAP. V Square Quantitative Management LLC bought a new position in shares of Snap during the 3rd quarter valued at $29,000. Paladin Wealth LLC bought a new position in shares of Snap during the 3rd quarter valued at $30,000. Advisors Asset Management Inc. lifted its holdings in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after buying an additional 1,632 shares during the period. Brooklyn Investment Group bought a new position in shares of Snap during the 3rd quarter valued at $41,000. Finally, Quest Partners LLC bought a new position in shares of Snap during the 3rd quarter valued at $81,000. 47.52% of the stock is owned by institutional investors.

Snap Trading Down 0.4 %

Shares of Snap stock opened at $10.85 on Tuesday. The firm has a market cap of $18.19 billion, a price-to-earnings ratio of -18.70 and a beta of 0.98. The business has a 50-day moving average price of $11.49 and a 200-day moving average price of $11.06. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.50.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.21) earnings per share. Equities research analysts anticipate that Snap Inc. will post -0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNAP. Guggenheim reissued a “buy” rating and set a $12.11 price target on shares of Snap in a report on Tuesday, December 3rd. Loop Capital raised their target price on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. UBS Group raised their target price on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their target price on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, B. Riley raised their target price on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.99.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total value of $195,120.00. Following the completion of the transaction, the general counsel now owns 498,498 shares in the company, valued at approximately $5,403,718.32. This trade represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Eric Young sold 50,000 shares of Snap stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $10.54, for a total value of $527,000.00. Following the completion of the transaction, the senior vice president now owns 752,110 shares of the company’s stock, valued at approximately $7,927,239.40. This represents a 6.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,451,618 shares of company stock worth $17,560,157. 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.