Trek Financial LLC Has $6.21 Million Position in Snap Inc. $SNAP

Trek Financial LLC increased its holdings in shares of Snap Inc. (NYSE:SNAP) by 33.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 769,475 shares of the company’s stock after purchasing an additional 191,199 shares during the period. Trek Financial LLC’s holdings in Snap were worth $6,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SNAP. Mackenzie Financial Corp increased its stake in Snap by 5.1% during the 3rd quarter. Mackenzie Financial Corp now owns 27,638 shares of the company’s stock worth $213,000 after purchasing an additional 1,349 shares in the last quarter. WealthCollab LLC lifted its stake in Snap by 1.2% in the fourth quarter. WealthCollab LLC now owns 115,390 shares of the company’s stock valued at $931,000 after buying an additional 1,369 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Snap by 0.3% in the third quarter. Alliancebernstein L.P. now owns 414,416 shares of the company’s stock valued at $3,195,000 after buying an additional 1,396 shares during the period. Orion Porfolio Solutions LLC boosted its holdings in shares of Snap by 8.3% in the second quarter. Orion Porfolio Solutions LLC now owns 18,913 shares of the company’s stock valued at $164,000 after buying an additional 1,451 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its position in shares of Snap by 37.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 5,500 shares of the company’s stock worth $44,000 after acquiring an additional 1,500 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Derek Andersen sold 92,956 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $4.59, for a total transaction of $426,668.04. Following the transaction, the chief financial officer directly owned 3,799,661 shares in the company, valued at $17,440,443.99. The trade was a 2.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca Morrow sold 16,499 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total transaction of $77,545.30. Following the completion of the sale, the chief accounting officer directly owned 466,682 shares in the company, valued at approximately $2,193,405.40. The trade was a 3.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 565,573 shares of company stock worth $2,699,781.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SNAP shares. Barclays raised shares of Snap from an “overweight” rating to an “overweight” rating in a research report on Monday, April 27th. Benchmark initiated coverage on Snap in a report on Monday, April 27th. They set a “buy” rating for the company. Rosenblatt Securities reissued a “neutral” rating and issued a $6.40 price target on shares of Snap in a research note on Thursday, April 16th. BMO Capital Markets upped their price objective on Snap from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. Finally, BNP Paribas Exane downgraded Snap to a “neutral” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and a consensus price target of $7.91.

Snap Trading Down 5.3%

NYSE SNAP opened at $5.76 on Tuesday. Snap Inc. has a 12 month low of $3.81 and a 12 month high of $10.41. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 1.53. The stock has a 50 day moving average of $5.17 and a 200-day moving average of $6.55. The company has a market cap of $9.72 billion, a PE ratio of -23.99 and a beta of 1.05.

Snap (NYSE:SNAP) last issued its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). Snap had a negative return on equity of 18.69% and a negative net margin of 6.72%.The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Snap’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities research analysts anticipate that Snap Inc. will post -0.12 EPS for the current fiscal year.

Snap Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.