Seven Bridges Advisors LLC Invests $101,000 in Snap Inc. (SNAP)
Seven Bridges Advisors LLC acquired a new position in Snap Inc. (NYSE:SNAP) during the second quarter, according to its most recent filing with the SEC. The fund acquired 5,700 shares of the company’s stock, valued at approximately $101,000.
A number of other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE bought a new stake in Snap during the first quarter worth approximately $101,000. WFG Advisors LP bought a new stake in Snap during the first quarter worth approximately $109,000. Benjamin F. Edwards & Company Inc. bought a new stake in Snap during the first quarter worth approximately $158,000. Dubuque Bank & Trust Co. bought a new stake in Snap during the second quarter worth approximately $137,000. Finally, Pacer Advisors Inc. bought a new stake in Snap during the first quarter worth approximately $205,000. 30.16% of the stock is currently owned by hedge funds and other institutional investors.
Snap Inc. (SNAP) opened at 13.56 on Thursday. The firm’s market cap is $15.99 billion. Snap Inc. has a 12 month low of $11.90 and a 12 month high of $29.44. The company’s 50-day moving average is $15.37 and its 200 day moving average is $19.24.
Snap (NYSE:SNAP) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($2.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.05) by $0.26. The firm had revenue of $149.60 million during the quarter, compared to analysts’ expectations of $158.32 million. Snap’s revenue was up 285.6% compared to the same quarter last year. On average, equities research analysts predict that Snap Inc. will post ($0.56) earnings per share for the current year.
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A number of research firms recently commented on SNAP. UBS AG raised shares of Snap from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $24.00 to $19.00 in a report on Thursday, May 11th. Vetr downgraded shares of Snap from a “buy” rating to a “hold” rating and set a $13.95 price objective on the stock. in a report on Monday. Canaccord Genuity reissued a “hold” rating and set a $22.00 price objective on shares of Snap in a report on Friday, May 12th. Instinet reissued a “reduce” rating and set a $14.00 price objective on shares of Snap in a report on Friday, June 9th. Finally, Drexel Hamilton restated a “buy” rating and set a $30.00 target price on shares of Snap in a research report on Wednesday. Nine investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Snap currently has a consensus rating of “Hold” and an average price target of $20.95.
Snap Company Profile
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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