Stifel Financial Corp lifted its stake in shares of Snap Inc. (NYSE:SNAP) by 38.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,868 shares of the company’s stock after purchasing an additional 11,095 shares during the period. Stifel Financial Corp’s holdings in Snap were worth $714,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Seven Bridges Advisors LLC purchased a new position in Snap in the 2nd quarter valued at approximately $101,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Snap by 654.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company’s stock valued at $134,000 after purchasing an additional 6,540 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new position in shares of Snap during the 2nd quarter valued at $137,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Snap by 9,588.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 9,688 shares of the company’s stock worth $172,000 after acquiring an additional 9,588 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Snap by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 9,869 shares of the company’s stock worth $175,000 after acquiring an additional 757 shares during the last quarter. Institutional investors own 17.29% of the company’s stock.
In other Snap news, VP Timothy Sehn sold 400,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $14.59, for a total transaction of $5,836,000.00. Following the transaction, the vice president now owns 2,669,279 shares of the company’s stock, valued at approximately $38,944,780.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Vollero sold 195,100 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $12.50, for a total transaction of $2,438,750.00. Following the transaction, the chief financial officer now directly owns 1,882,280 shares in the company, valued at approximately $23,528,500. 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 three months.
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Shares of Snap Inc. (NYSE:SNAP) traded up $0.38 during trading hours on Friday, hitting $12.76. 32,138,000 shares of the company’s stock were exchanged, compared to its average volume of 25,794,475. Snap Inc. has a 1-year low of $11.28 and a 1-year high of $29.44.
Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.14) EPS 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 analysts’ expectations of $236.71 million. Snap’s quarterly revenue was up 62.2% on a year-over-year basis. sell-side analysts anticipate that Snap Inc. will post -2.83 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on SNAP. Cowen and Company reaffirmed a “hold” rating and set a $12.00 price objective on shares of Snap in a report on Friday. Canaccord Genuity downgraded shares of Snap from a “hold” rating to a “sell” rating in a research note on Thursday. Morgan Stanley downgraded shares of Snap from an “equal weight” rating to an “underweight” rating in a research note on Thursday. Bank of America Corporation lowered their price objective on shares of Snap from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Credit Suisse Group lowered their price objective on shares of Snap from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday. Fifteen analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $17.12.
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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