Jacobs Levy Equity Management Inc. Has $19.19 Million Holdings in Snap Inc. (NYSE:SNAP)

Jacobs Levy Equity Management Inc. boosted its holdings in Snap Inc. (NYSE:SNAP) by 14.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,671,193 shares of the company’s stock after buying an additional 208,046 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.10% of Snap worth $19,185,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Sowell Financial Services LLC boosted its stake in shares of Snap by 3.3% during the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock valued at $392,000 after purchasing an additional 729 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after purchasing an additional 891 shares during the last quarter. Charles Schwab Investment Advisory Inc. boosted its position in Snap by 2.7% in the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after purchasing an additional 956 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of Snap by 3.3% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock valued at $533,000 after buying an additional 1,000 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of Snap by 6.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after buying an additional 1,232 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Stock Performance

NYSE SNAP traded up $0.20 on Wednesday, hitting $13.29. 8,033,994 shares of the company traded hands, compared to its average volume of 26,973,539. The company has a market capitalization of $21.81 billion, a price-to-earnings ratio of -16.20 and a beta of 1.03. 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 business’s 50 day moving average price is $15.43 and its 200-day moving average price is $13.92. Snap Inc. has a 52-week low of $8.28 and a 52-week high of $17.90.

Insider Activity at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $7,980,396.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $141,805.83. Following the sale, the chief accounting officer now directly owns 483,743 shares in the company, valued at $7,696,351.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the 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 sale, the general counsel now owns 481,908 shares in the company, valued at $7,980,396.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,078 shares of company stock worth $3,279,089. Corporate insiders own 22.68% of the company’s stock.

Wall Street Analysts Forecast Growth

SNAP has been the topic of a number of analyst reports. Susquehanna boosted their price objective on Snap from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Roth Mkm reiterated a “neutral” rating and set a $14.00 price objective on shares of Snap in a research note on Tuesday, April 23rd. Raymond James reiterated 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. Barclays upped their target price on Snap from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, Morgan Stanley upgraded Snap from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $12.00 to $16.00 in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Snap presently has a consensus rating of “Hold” and an average price target of $15.11.

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.