Intellectus Partners LLC Makes New Investment in Snap Inc. (NYSE:SNAP)

Intellectus Partners LLC purchased a new stake in shares of Snap Inc. (NYSE:SNAP) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,880 shares of the company’s stock, valued at approximately $103,000.

Several other large investors have also recently made changes to their positions in SNAP. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Snap in the 4th quarter valued at $27,000. Raiffeisen Bank International AG bought a new stake in Snap in the fourth quarter worth $30,000. Comprehensive Financial Planning Inc. PA bought a new stake in Snap in the fourth quarter worth $32,000. NBC Securities Inc. boosted its position in Snap by 154,650.0% during the first quarter. NBC Securities Inc. now owns 3,095 shares of the company’s stock valued at $26,000 after buying an additional 3,093 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new stake in Snap during the fourth quarter valued at about $43,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SNAP shares. Cantor Fitzgerald set a $7.00 price objective on Snap and gave the stock a “neutral” rating in a report on Wednesday, April 30th. B. Riley reduced their price target on Snap from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets decreased their price target on Snap from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Canaccord Genuity Group lowered their price objective on Snap from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Finally, Citizens Jmp raised Snap from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.62.

Insider Buying and Selling at Snap

In other news, General Counsel Michael J. O’sullivan sold 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $7.74, for a total value of $185,760.00. Following the sale, the general counsel now directly owns 483,660 shares of the company’s stock, valued at $3,743,528.40. The trade was a 4.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Rebecca Morrow sold 9,202 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $8.59, for a total value of $79,045.18. Following the completion of the sale, the chief accounting officer now owns 448,881 shares in the company, valued at $3,855,887.79. The trade was a 2.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,634,313 shares of company stock valued at $22,581,690. 22.68% of the stock is currently owned by company insiders.

Snap Stock Performance

Shares of SNAP opened at $8.26 on Friday. The company has a 50-day simple moving average of $8.27 and a two-hundred day simple moving average of $9.93. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The firm has a market capitalization of $13.80 billion, a PE ratio of -19.67 and a beta of 0.61. Snap Inc. has a one year low of $7.08 and a one year high of $17.33.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.12). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business earned $0.03 EPS. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, analysts anticipate that Snap Inc. will post -0.3 EPS 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.