Citizens Financial Group Inc. RI Increases Position in Snap Inc. (NYSE:SNAP)

Citizens Financial Group Inc. RI increased its holdings in Snap Inc. (NYSE:SNAP) by 182.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,602 shares of the company’s stock after acquiring an additional 19,769 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Snap were worth $330,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNAP. Advisors Asset Management Inc. raised its position in shares of Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Snap in the 4th quarter valued at about $32,000. Brooklyn Investment Group bought a new stake in shares of Snap during the 3rd quarter valued at about $41,000. Blue Trust Inc. raised its stake in Snap by 128.0% during the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after acquiring an additional 2,453 shares during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in shares of Snap during the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

SNAP has been the topic of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Snap in a report on Thursday, December 5th. Citigroup raised their target price on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Bank of America raised their price objective on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Guggenheim downgraded Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. Finally, Citizens Jmp cut Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.87.

Snap Price Performance

Shares of NYSE:SNAP opened at $8.37 on Friday. The business’s 50 day moving average is $10.83 and its 200-day moving average is $10.80. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $14.19 billion, a PE ratio of -19.92 and a beta of 0.92. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33.

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

Insider Activity at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the sale, the chief technology officer now owns 55,818,548 shares in the company, valued at $504,599,673.92. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Derek Andersen sold 94,164 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the completion of the transaction, the chief financial officer now owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. This trade represents a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,449,168 shares of company stock valued at $14,033,679 in the last 90 days. 22.68% of the stock is owned by corporate insiders.

Snap Company 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.