RiverPark Advisors LLC Grows Stock Holdings in Snap Inc. (NYSE:SNAP)

RiverPark Advisors LLC raised its position in shares of Snap Inc. (NYSE:SNAP) by 11.1% during the first quarter, HoldingsChannel reports. The firm owned 100,432 shares of the company’s stock after purchasing an additional 10,038 shares during the period. RiverPark Advisors LLC’s holdings in Snap were worth $1,153,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. NBC Securities Inc. raised its position in Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after purchasing an additional 1,445 shares in the last quarter. Allworth Financial LP raised its position in Snap by 161.6% during 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 during the fourth quarter valued at about $51,000. Rakuten Securities Inc. bought a new position in shares of Snap during the fourth quarter valued at about $73,000. Finally, Westpac Banking Corp grew its stake in shares of Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after buying an additional 2,506 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $16.56, for a total transaction of $298,080.00. Following the completion of the transaction, the general counsel now directly owns 481,908 shares in the company, valued at $7,980,396.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $16.56, for a total transaction of $298,080.00. Following the completion of the transaction, the general counsel now directly owns 481,908 shares in the company, valued at $7,980,396.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Derek Andersen sold 26,682 shares of Snap stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $15.72, for a total transaction of $419,441.04. Following the transaction, the chief financial officer now owns 2,508,007 shares of the company’s stock, valued at $39,425,870.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,372,583 shares of company stock worth $19,934,275.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNAP. Evercore ISI raised their price objective on Snap from $13.00 to $14.00 and gave the company an “in-line” rating in a research note on Friday, April 26th. Raymond James reaffirmed an “outperform” rating and set a $16.00 price objective (up from $15.00) on shares of Snap in a research note on Friday, April 26th. TD Cowen raised their price objective on Snap from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Truist Financial raised their price objective on Snap from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company raised their price objective on Snap from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Snap presently has an average rating of “Hold” and an average price target of $14.82.

Snap Stock Up 1.5 %

Snap stock traded up $0.25 during trading hours on Tuesday, hitting $16.75. 12,025,620 shares of the stock traded hands, compared to its average volume of 27,950,957. The firm’s 50-day moving average price is $15.88 and its two-hundred day moving average price is $14.13. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 1.55. The company has a market cap of $27.49 billion, a PE ratio of -20.68 and a beta of 1.03. Snap Inc. has a one year low of $8.28 and a one year high of $17.90.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. On average, research analysts forecast that Snap Inc. will post -0.43 EPS for the current 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.