Freestone Capital Holdings LLC Grows Position in Snap Inc. (NYSE:SNAP)

Freestone Capital Holdings LLC raised its holdings in shares of Snap Inc. (NYSE:SNAP) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,181 shares of the company’s stock after purchasing an additional 5,736 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Snap were worth $748,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. lifted its holdings in shares of Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after buying an additional 1,445 shares in the last quarter. Allworth Financial LP raised its stake in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Snap in the fourth quarter valued at approximately $51,000. Rakuten Securities Inc. purchased a new stake in Snap in the fourth quarter valued at approximately $73,000. Finally, Westpac Banking Corp raised its stake in Snap by 108.7% in the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after purchasing an additional 2,506 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank of Canada lifted their price target on shares of Snap from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Truist Financial lifted their price target on shares of Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. TD Cowen lifted their price target on shares of Snap from $11.00 to $14.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Evercore ISI raised their target price on shares of Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a report on Friday, April 26th. Finally, HSBC upgraded shares of Snap from a “reduce” rating to a “buy” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and an average target price of $14.94.

Insider Activity at Snap

In other Snap news, CAO Rebecca Morrow sold 8,913 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.91, for a total value of $141,805.83. Following the completion of the transaction, the chief accounting officer now directly owns 483,743 shares in the company, valued at approximately $7,696,351.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snap news, CAO Rebecca Morrow sold 8,913 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.91, for a total value of $141,805.83. Following the completion of the transaction, the chief accounting officer now directly owns 483,743 shares in the company, valued at approximately $7,696,351.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s 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 $854,699,723.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,375,078 shares of company stock worth $19,973,389. 22.68% of the stock is owned by company insiders.

Snap Stock Performance

Shares of NYSE:SNAP traded down $0.08 during mid-day trading on Friday, reaching $13.37. 12,937,774 shares of the company traded hands, compared to its average volume of 27,120,275. The company’s 50 day moving average price is $15.60 and its 200-day moving average price is $14.04. The firm has a market cap of $21.94 billion, a PE ratio of -16.39 and a beta of 1.03. 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 Inc. has a 52 week low of $8.28 and a 52 week high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. On average, equities analysts expect that Snap Inc. will post -0.44 EPS for the current fiscal year.

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.