Newbridge Financial Services Group Inc. Reduces Stock Position in Snap Inc. (NYSE:SNAP)

Newbridge Financial Services Group Inc. lessened its stake in shares of Snap Inc. (NYSE:SNAP) by 50.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the company’s stock after selling 4,000 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Snap were worth $43,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Snap during the 3rd quarter worth about $29,000. Paladin Wealth LLC acquired a new stake in Snap in the 3rd quarter worth about $30,000. Advisors Asset Management Inc. boosted its stake in Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Snap in the 3rd quarter worth about $41,000. Finally, Blue Trust Inc. boosted its stake in Snap by 136.3% in the 4th quarter. Blue Trust Inc. now owns 4,529 shares of the company’s stock worth $48,000 after buying an additional 2,612 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insider Activity

In other news, CFO Derek Andersen sold 94,164 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the sale, the chief financial officer now directly owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. The trade was a 4.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eric Young sold 112,020 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares in the company, valued at $29,445,556.40. This represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 443,518 shares of company stock worth $4,947,981. 22.68% of the stock is currently owned by insiders.

Snap Price Performance

SNAP stock opened at $10.90 on Wednesday. The company has a quick ratio of 4.04, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.33. The stock’s 50 day moving average is $11.40 and its two-hundred day moving average is $10.78. The company has a market capitalization of $18.27 billion, a PE ratio of -25.94 and a beta of 0.99.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share 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%. Analysts predict that Snap Inc. will post -0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup raised their price target on Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Citizens Jmp lowered Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price target on shares of Snap in a research note on Wednesday, October 30th. Susquehanna raised their price target on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, UBS Group lifted their price objective on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.87.

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.