C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New $2.29 Million Investment in Snap Inc. (NYSE:SNAP)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Snap Inc. (NYSE:SNAP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 212,199 shares of the company’s stock, valued at approximately $2,285,000.

Several other institutional investors have also recently bought and sold shares of SNAP. V Square Quantitative Management LLC acquired a new position in Snap during the third quarter worth about $29,000. International Assets Investment Management LLC grew its holdings in shares of Snap by 3,391.5% during the third quarter. International Assets Investment Management LLC now owns 24,685 shares of the company’s stock worth $264,000 after purchasing an additional 23,978 shares during the last quarter. Forsta AP Fonden grew its holdings in shares of Snap by 15.0% during the third quarter. Forsta AP Fonden now owns 236,600 shares of the company’s stock worth $2,532,000 after purchasing an additional 30,900 shares during the last quarter. PFG Investments LLC grew its holdings in shares of Snap by 80.3% during the third quarter. PFG Investments LLC now owns 49,271 shares of the company’s stock worth $527,000 after purchasing an additional 21,950 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Snap by 20.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,323 shares of the company’s stock worth $153,000 after purchasing an additional 2,395 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Ratings Changes

SNAP has been the topic of several research reports. JMP Securities restated a “market outperform” rating and set a $16.00 price target on shares of Snap in a report on Monday, January 27th. Barclays restated an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. Truist Financial boosted their price target on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, February 5th. Finally, Susquehanna upped their target price on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $36.87.

Insider Transactions at Snap

In related news, CFO Derek Andersen sold 94,164 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the sale, the chief financial officer now directly owns 2,193,806 shares of the company’s stock, valued at approximately $25,097,140.64. This represents a 4.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Eric Young sold 50,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $10.54, for a total value of $527,000.00. Following the completion of the sale, the senior vice president now directly owns 752,110 shares of the company’s stock, valued at $7,927,239.40. The trade was a 6.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 308,029 shares of company stock valued at $3,518,695 over the last ninety days.

Snap Stock Up 1.5 %

Shares of NYSE:SNAP opened at $11.02 on Wednesday. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The stock’s 50 day moving average is $11.28 and its 200-day moving average is $10.72.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share 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%. As a group, equities research analysts predict that Snap Inc. will post -0.3 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.