Snap Inc. (NYSE:SNAP) Stock Position Raised by Cwm LLC

Cwm LLC boosted its holdings in Snap Inc. (NYSE:SNAP) by 83.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,721 shares of the company’s stock after acquiring an additional 44,405 shares during the period. Cwm LLC’s holdings in Snap were worth $1,623,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. NBC Securities Inc. grew its position in shares of Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after acquiring an additional 1,445 shares during the last quarter. Allworth Financial LP grew its position in Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Snap in the fourth quarter valued at approximately $51,000. Rakuten Securities Inc. bought a new stake in shares of Snap during the fourth quarter valued at approximately $73,000. Finally, Westpac Banking Corp boosted its position in shares of Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after buying an additional 2,506 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNAP has been the topic of several analyst reports. Stifel Nicolaus raised their target price on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, April 26th. HSBC lowered Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Evercore ISI upped their price objective on shares of Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a report on Friday, April 26th. Susquehanna lowered their target price on shares of Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Bank of America dropped their price target on shares of Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.23.

Insider Buying and Selling at Snap

In other news, CFO Derek Andersen sold 26,682 shares of Snap stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $15.72, for a total transaction of $419,441.04. Following the transaction, the chief financial officer now owns 2,508,007 shares in the company, valued at $39,425,870.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Snap news, General Counsel Michael J. O’sullivan sold 12,695 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total value of $201,977.45. Following the completion of the sale, the general counsel now owns 1,460,617 shares in the company, valued at approximately $23,238,416.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Derek Andersen sold 26,682 shares of Snap stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $15.72, for a total transaction of $419,441.04. Following the sale, the chief financial officer now directly owns 2,508,007 shares of the company’s stock, valued at approximately $39,425,870.04. The disclosure for this sale can be found here. Insiders have sold a total of 1,375,078 shares of company stock valued at $13,535,629 in the last three months. 22.68% of the stock is currently owned by company insiders.

Snap Trading Up 0.8 %

Shares of NYSE:SNAP traded up $0.07 during mid-day trading on Friday, hitting $9.01. The stock had a trading volume of 5,125,220 shares, compared to its average volume of 28,223,561. Snap Inc. has a 12-month low of $8.28 and a 12-month high of $17.90. The company has a debt-to-equity ratio of 1.55, a quick ratio of 3.76 and a current ratio of 3.76. The company has a market cap of $14.79 billion, a PE ratio of -11.04 and a beta of 1.03. The company’s 50 day moving average is $14.69 and its 200-day moving average is $13.65.

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.