Kestra Private Wealth Services LLC Trims Stock Position in Snap Inc. (NYSE:SNAP)

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Kestra Private Wealth Services LLC reduced its stake in shares of Snap Inc. (NYSE:SNAPGet Rating) by 15.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,049 shares of the company’s stock after selling 1,846 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Snap were worth $362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Carolinas Wealth Consulting LLC grew its position in shares of Snap by 44.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,076 shares of the company’s stock worth $51,000 after buying an additional 332 shares during the period. Blue Zone Wealth Advisors LLC grew its position in shares of Snap by 0.4% in the 1st quarter. Blue Zone Wealth Advisors LLC now owns 100,380 shares of the company’s stock worth $3,613,000 after buying an additional 363 shares during the period. Joel Isaacson & Co. LLC grew its position in shares of Snap by 3.7% in the 1st quarter. Joel Isaacson & Co. LLC now owns 10,976 shares of the company’s stock worth $358,000 after buying an additional 387 shares during the period. UMB Bank N A MO boosted its stake in Snap by 54.1% in the 1st quarter. UMB Bank N A MO now owns 1,156 shares of the company’s stock worth $41,000 after purchasing an additional 406 shares in the last quarter. Finally, Altfest L J & Co. Inc. boosted its stake in Snap by 5.3% in the 1st quarter. Altfest L J & Co. Inc. now owns 8,093 shares of the company’s stock worth $291,000 after purchasing an additional 407 shares in the last quarter. 51.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SNAP shares. JPMorgan Chase & Co. cut shares of Snap from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $24.00 to $9.00 in a research note on Friday, July 22nd. Royal Bank of Canada upped their price target on shares of Snap from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 1st. Deutsche Bank Aktiengesellschaft cut shares of Snap from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $14.00 in a research note on Friday, July 22nd. Guggenheim cut shares of Snap from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $12.00 in a research note on Friday, July 22nd. Finally, Atlantic Securities cut shares of Snap from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $13.00 in a research note on Friday, July 22nd. Three equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.91.

Insider Buying and Selling at Snap

In related news, CFO Derek Andersen sold 3,276 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $11.61, for a total value of $38,034.36. Following the completion of the transaction, the chief financial officer now directly owns 1,087,282 shares of the company’s stock, valued at $12,623,344.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Derek Andersen sold 3,276 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $11.61, for a total value of $38,034.36. Following the completion of the transaction, the chief financial officer now directly owns 1,087,282 shares of the company’s stock, valued at $12,623,344.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeremi Gorman sold 36,816 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $11.34, for a total transaction of $417,493.44. Following the completion of the transaction, the insider now directly owns 1,343,344 shares of the company’s stock, valued at $15,233,520.96. The disclosure for this sale can be found here. Insiders sold a total of 1,197,414 shares of company stock valued at $12,434,463 in the last three months.

Snap Trading Down 2.0 %

Shares of SNAP opened at $11.12 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 5.65 and a quick ratio of 5.65. Snap Inc. has a 1 year low of $9.34 and a 1 year high of $83.34. The company has a 50 day simple moving average of $11.46 and a two-hundred day simple moving average of $19.87. The firm has a market cap of $18.34 billion, a P/E ratio of -21.38 and a beta of 0.97.

Snap (NYSE:SNAPGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). Snap had a negative net margin of 18.31% and a negative return on equity of 21.55%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.14 billion. On average, equities analysts expect that Snap Inc. will post -0.73 earnings per share for the current fiscal year.

Snap Company Profile

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Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

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