Kiley Juergens Wealth Management LLC Makes New Investment in Snap Inc. (NYSE:SNAP)

Kiley Juergens Wealth Management LLC acquired a new position in Snap Inc. (NYSE:SNAP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,561 shares of the company’s stock, valued at approximately $263,000.

A number of other large investors have also added to or reduced their stakes in the company. Cerity Partners LLC increased its position in shares of Snap by 19.0% during the 4th quarter. Cerity Partners LLC now owns 222,124 shares of the company’s stock valued at $3,761,000 after purchasing an additional 35,452 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Snap by 77.1% during the 4th quarter. International Assets Investment Management LLC now owns 11,970 shares of the company’s stock valued at $203,000 after purchasing an additional 5,213 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Snap by 50.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,382,917 shares of the company’s stock valued at $23,413,000 after purchasing an additional 462,977 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Snap by 171.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 493,744 shares of the company’s stock valued at $8,312,000 after purchasing an additional 311,552 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new position in shares of Snap during the 4th quarter valued at approximately $515,000. Institutional investors own 47.52% of the company’s stock.

Insider Activity

In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 2,442 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.00, for a total transaction of $26,862.00. Following the completion of the sale, the chief accounting officer now directly owns 493,084 shares of the company’s stock, valued at approximately $5,423,924. The disclosure for this sale can be found here. Insiders sold a total of 470,054 shares of company stock valued at $5,279,729 in the last three months.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SNAP shares. Morgan Stanley cut their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upgraded Snap from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $19.00 in a research note on Friday, January 26th. Rosenblatt Securities increased their price target on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Stifel Nicolaus lowered their target price on shares of Snap from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, Truist Financial lifted their target price on shares of Snap from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Snap currently has a consensus rating of “Hold” and an average target price of $13.65.

Snap Stock Performance

Shares of NYSE:SNAP traded up $0.07 during trading on Tuesday, hitting $10.42. 24,205,964 shares of the stock traded hands, compared to its average volume of 29,048,719. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. The company has a market cap of $17.19 billion, a price-to-earnings ratio of -12.55 and a beta of 1.13. The company has a fifty day moving average price of $11.20 and a two-hundred day moving average price of $12.73. Snap Inc. has a 52-week low of $7.86 and a 52-week high of $17.90.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.39 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. As a group, equities analysts predict that Snap Inc. will post -0.58 EPS for the current year.

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.