AssuredPartners Investment Advisors LLC Purchases 1,306 Shares of Snap Inc. (NYSE:SNAP)

AssuredPartners Investment Advisors LLC increased its position in Snap Inc. (NYSE:SNAP) by 6.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,128 shares of the company’s stock after purchasing an additional 1,306 shares during the quarter. AssuredPartners Investment Advisors LLC’s holdings in Snap were worth $193,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Hudson Value Partners LLC bought a new position in Snap in the first quarter worth approximately $211,000. Cambridge Investment Research Advisors Inc. boosted its position in Snap by 12.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 26,841 shares of the company’s stock valued at $234,000 after acquiring an additional 2,918 shares in the last quarter. Praxis Investment Management Inc. boosted its position in Snap by 64.5% during the 1st quarter. Praxis Investment Management Inc. now owns 66,690 shares of the company’s stock valued at $581,000 after acquiring an additional 26,140 shares in the last quarter. Retirement Systems of Alabama acquired a new stake in shares of Snap in the 1st quarter worth $7,036,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of Snap in the 1st quarter worth $138,000. Institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 24,000 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $7.74, for a total value of $185,760.00. Following the completion of the transaction, the general counsel now owns 483,660 shares in the company, valued at $3,743,528.40. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ajit Mohan sold 27,608 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $8.04, for a total transaction of $221,968.32. Following the completion of the transaction, the insider now owns 2,526,855 shares of the company’s stock, valued at $20,315,914.20. This represents a 1.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,639,601 shares of company stock worth $13,532,151. Corporate insiders own 22.68% of the company’s stock.

Snap Stock Down 3.6%

Shares of NYSE SNAP opened at $8.02 on Thursday. Snap Inc. has a 52-week low of $7.08 and a 52-week high of $17.33. The business’s 50 day moving average is $8.33 and its two-hundred day moving average is $9.61. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.55. The firm has a market cap of $13.40 billion, a price-to-earnings ratio of -25.87 and a beta of 0.59.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.12). The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. Research analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SNAP. JMP Securities set a $12.00 target price on Snap in a research note on Friday, April 25th. Wells Fargo & Company dropped their target price on Snap from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 30th. Citigroup dropped their target price on Snap from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley lowered their price objective on Snap from $8.00 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Loop Capital lowered their price objective on Snap from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.62.

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.