Snap Inc. (NYSE:SNAP) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its holdings in shares of Snap Inc. (NYSE:SNAP) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,695 shares of the company’s stock after selling 1,300 shares during the period. Kovack Advisors Inc.’s holdings in Snap were worth $341,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after purchasing an additional 2,386,519 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Snap during the third quarter valued at approximately $1,345,000. Invenomic Capital Management LP purchased a new stake in shares of Snap during the third quarter valued at approximately $2,349,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Snap by 49.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock valued at $28,245,000 after purchasing an additional 879,212 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of Snap during the third quarter valued at approximately $828,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Stock Performance

Shares of SNAP opened at $10.26 on Friday. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33. The company has a market cap of $17.40 billion, a price-to-earnings ratio of -24.42 and a beta of 0.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The firm has a fifty day moving average of $11.09 and a 200-day moving average of $10.79.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, equities analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Rebecca Morrow sold 2,812 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $32,169.28. Following the completion of the sale, the chief accounting officer now owns 430,252 shares of the company’s stock, valued at $4,922,082.88. This represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Eric Young sold 102,152 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the sale, the senior vice president now directly owns 3,443,419 shares of the company’s stock, valued at $37,326,661.96. The trade was a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 481,471 shares of company stock valued at $5,394,906 over the last 90 days. 22.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNAP has been the topic of a number of analyst reports. Wells Fargo & Company lowered shares of Snap from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $15.00 to $11.00 in a research note on Wednesday, February 5th. Guggenheim lowered shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, February 5th. Citigroup lifted their price target on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Susquehanna lifted their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus target price of $36.87.

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.