First Trust Advisors LP Increases Stake in Snap Inc. (SNAP)

First Trust Advisors LP lifted its stake in shares of Snap Inc. (NYSE:SNAP) by 873.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,884,101 shares of the company’s stock after buying an additional 5,279,883 shares during the period. First Trust Advisors LP owned about 0.49% of Snap worth $85,555,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its position in Snap by 8.3% in the second quarter. Pacer Advisors Inc. now owns 9,869 shares of the company’s stock worth $175,000 after purchasing an additional 757 shares during the last quarter. Private Advisor Group LLC boosted its position in Snap by 6.7% in the second quarter. Private Advisor Group LLC now owns 22,293 shares of the company’s stock worth $379,000 after purchasing an additional 1,393 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its position in Snap by 6.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company’s stock worth $754,000 after purchasing an additional 2,530 shares during the last quarter. WFG Advisors LP boosted its position in Snap by 52.4% in the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after purchasing an additional 2,537 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Snap by 21.1% in the second quarter. Oppenheimer & Co. Inc. now owns 19,816 shares of the company’s stock worth $352,000 after purchasing an additional 3,447 shares during the last quarter. 17.29% of the stock is currently owned by institutional investors.

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SNAP has been the topic of several research analyst reports. Vetr raised Snap from a “hold” rating to a “strong-buy” rating and set a $18.29 price objective on the stock in a research report on Thursday, October 19th. Drexel Hamilton reissued a “buy” rating and issued a $30.00 price objective on shares of Snap in a research report on Thursday, September 14th. Cantor Fitzgerald reissued a “buy” rating and issued a $17.00 price objective (up previously from $15.00) on shares of Snap in a research report on Friday, September 15th. Stifel Nicolaus cut Snap from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research report on Friday, July 14th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $20.00 price objective on shares of Snap in a research report on Sunday, October 8th. Fifteen research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have given a buy rating to the company’s stock. Snap currently has a consensus rating of “Hold” and a consensus target price of $17.12.

Shares of Snap Inc. (NYSE SNAP) traded up $0.38 during midday trading on Friday, reaching $12.76. The company’s stock had a trading volume of 32,138,000 shares, compared to its average volume of 25,794,475. Snap Inc. has a fifty-two week low of $11.28 and a fifty-two week high of $29.44.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.17. The business had revenue of $207.90 million during the quarter, compared to the consensus estimate of $236.71 million. The business’s quarterly revenue was up 62.2% on a year-over-year basis. equities analysts predict that Snap Inc. will post -2.83 earnings per share for the current fiscal year.

In other news, VP Timothy Sehn sold 400,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $12.50, for a total value of $5,000,000.00. Following the completion of the transaction, the vice president now directly owns 2,204,168 shares in the company, valued at approximately $27,552,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Steven Michael Horowitz sold 50,624 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $13.04, for a total value of $660,136.96. Following the completion of the transaction, the vice president now owns 2,440,055 shares of the company’s stock, valued at $31,818,317.20. The disclosure for this sale can be found here. Insiders sold a total of 2,533,598 shares of company stock valued at $35,540,362 over the last quarter.

About Snap

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.

Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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