Snap Inc. (NYSE:SNAP) Shares Purchased by Virtu Financial LLC

Virtu Financial LLC grew its holdings in shares of Snap Inc. (NYSE:SNAP) by 314.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,220 shares of the company’s stock after purchasing an additional 64,664 shares during the period. Virtu Financial LLC’s holdings in Snap were worth $1,416,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Steward Partners Investment Advisory LLC lifted its stake in shares of Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after purchasing an additional 891 shares during the period. GraniteShares Advisors LLC lifted its position in shares of Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after acquiring an additional 941 shares during the period. Charles Schwab Investment Advisory Inc. boosted its stake in shares of Snap by 2.7% during the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after acquiring an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Snap by 4.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock worth $448,000 after acquiring an additional 1,048 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its stake in Snap by 6.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after purchasing an additional 1,232 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on SNAP. Deutsche Bank Aktiengesellschaft decreased their target price on Snap from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group cut their target price on shares of Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Wolfe Research began coverage on shares of Snap in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Cantor Fitzgerald started coverage on Snap in a research report on Thursday, September 5th. They set a “neutral” rating and a $8.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and a consensus target price of $13.87.

Snap Price Performance

SNAP opened at $9.43 on Wednesday. The company has a 50 day moving average of $10.97 and a two-hundred day moving average of $12.85. Snap Inc. has a 52-week low of $8.28 and a 52-week high of $17.90. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The company has a market cap of $15.64 billion, a P/E ratio of -11.64 and a beta of 1.00.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. On average, analysts expect that Snap Inc. will post -0.48 earnings per share for the current year.

Insider Activity at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $16.56, for a total value of $298,080.00. Following the completion of the transaction, the general counsel now owns 481,908 shares in the company, valued at approximately $7,980,396.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares in the company, valued at $508,832,634.97. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the sale, the general counsel now owns 481,908 shares of the company’s stock, valued at approximately $7,980,396.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,352,420 shares of company stock worth $12,091,682. 22.68% of the stock is currently owned by company insiders.

Snap 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.