AssuredPartners Investment Advisors LLC Purchases Shares of 20,822 Snap Inc. (NYSE:SNAP)

AssuredPartners Investment Advisors LLC acquired a new position in shares of Snap Inc. (NYSE:SNAP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,822 shares of the company’s stock, valued at approximately $224,000.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares during the period. Groupama Asset Managment purchased a new position in shares of Snap in the third quarter worth about $13,032,000. Assenagon Asset Management S.A. lifted its holdings in shares of Snap by 51.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock worth $33,244,000 after purchasing an additional 1,050,501 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Snap by 49.9% in 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 buying an additional 879,212 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Snap in the 4th quarter worth approximately $7,614,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Price Performance

Shares of NYSE SNAP opened at $8.88 on Friday. The firm has a 50-day simple moving average of $10.16 and a 200-day simple moving average of $10.79. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of -21.13 and a beta of 0.92. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, equities analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SNAP has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, February 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 price target (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Bank of America boosted their price objective on Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Snap in a report on Thursday, December 5th. Finally, Susquehanna boosted their price target on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.87.

Insider Activity at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the sale, the chief technology officer now directly owns 55,818,548 shares in the company, valued at approximately $504,599,673.92. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the transaction, the general counsel now owns 498,498 shares in the company, valued at $5,403,718.32. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,350,523 shares of company stock valued at $12,698,797. 22.68% of the stock is currently owned by insiders.

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.