53,544 Shares in Snap Inc. (NYSE:SNAP) Bought by Bryce Point Capital LLC

Bryce Point Capital LLC bought a new stake in Snap Inc. (NYSE:SNAP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 53,544 shares of the company’s stock, valued at approximately $577,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC grew its holdings in shares of Snap by 3.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock valued at $335,000 after acquiring an additional 901 shares in the last quarter. HCR Wealth Advisors raised its stake in shares of Snap by 3.9% during the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock worth $269,000 after purchasing an additional 934 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock valued at $384,000 after buying an additional 1,055 shares during the last quarter. Gradient Investments LLC grew its stake in shares of Snap by 0.9% in the fourth quarter. Gradient Investments LLC now owns 142,144 shares of the company’s stock valued at $1,531,000 after buying an additional 1,310 shares in the last quarter. Finally, Certuity LLC increased its holdings in Snap by 9.2% during the fourth quarter. Certuity LLC now owns 17,738 shares of the company’s stock worth $191,000 after buying an additional 1,495 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNAP has been the topic of several recent analyst reports. Bank of America boosted their price objective on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. JMP Securities reissued a “market outperform” rating and set a $16.00 target price on shares of Snap in a report on Monday, January 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 price target (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. Citigroup upped their price objective on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Finally, Wells Fargo & Company cut their target price on shares of Snap from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Snap currently has an average rating of “Hold” and an average price target of $36.80.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 24,000 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $8.60, for a total transaction of $206,400.00. Following the completion of the transaction, the general counsel now directly owns 507,660 shares of the company’s stock, valued at $4,365,876. This trade represents a 4.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Derek Andersen sold 22,720 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.58, for a total value of $194,937.60. Following the completion of the sale, the chief financial officer now directly owns 3,541,515 shares of the company’s stock, valued at approximately $30,386,198.70. The trade was a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,356,523 shares of company stock worth $12,710,077 in the last ninety days. Company insiders own 22.68% of the company’s stock.

Snap Stock Down 0.8 %

Shares of SNAP opened at $8.86 on Thursday. The stock has a market capitalization of $15.03 billion, a price-to-earnings ratio of -21.09 and a beta of 0.92. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33. 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 stock has a fifty day moving average of $10.06 and a 200-day moving average of $10.80.

Snap (NYSE:SNAP) last announced its quarterly earnings results 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%. As a group, sell-side analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

About Snap

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.