Kiley Juergens Wealth Management LLC Makes New $263,000 Investment in Snap Inc. (NYSE:SNAP)

Kiley Juergens Wealth Management LLC purchased a new position in Snap Inc. (NYSE:SNAP) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 15,561 shares of the company’s stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cerity Partners LLC lifted its stake in shares of Snap by 19.0% in 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 in the last quarter. International Assets Investment Management LLC lifted its position in Snap by 77.1% during the 4th quarter. International Assets Investment Management LLC now owns 11,970 shares of the company’s stock worth $203,000 after acquiring an additional 5,213 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 worth $23,413,000 after acquiring an additional 462,977 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Snap by 171.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 493,744 shares of the company’s stock worth $8,312,000 after acquiring an additional 311,552 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC acquired a new position in Snap during the 4th quarter worth approximately $515,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Stock Performance

Shares of NYSE:SNAP traded up $0.07 on Tuesday, hitting $10.42. The company’s stock had a trading volume of 24,205,964 shares, compared to its average volume of 29,048,719. Snap Inc. has a 12 month low of $7.86 and a 12 month high of $17.90. The company has a market capitalization of $17.19 billion, a price-to-earnings ratio of -12.55 and a beta of 1.13. The stock’s 50-day moving average is $11.20 and its two-hundred day moving average is $12.73. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39.

Snap (NYSE:SNAP) last announced 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. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.39 billion. On average, equities research analysts forecast that Snap Inc. will post -0.58 EPS for the current year.

Insider Activity at Snap

In related news, CFO Derek Andersen sold 96,953 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the completion of the transaction, the chief financial officer now owns 2,534,689 shares of the company’s stock, valued at $27,856,232.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Derek Andersen sold 96,953 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the transaction, the chief financial officer now owns 2,534,689 shares in the company, valued at approximately $27,856,232.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rebecca Morrow sold 9,386 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the transaction, the chief accounting officer now owns 495,526 shares of the company’s stock, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. Insiders sold 470,054 shares of company stock valued at $5,279,729 over the last 90 days.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SNAP shares. The Goldman Sachs Group dropped their price objective on Snap from $15.00 to $13.50 and set a “neutral” rating on the stock in a report on Thursday, February 8th. Susquehanna lifted their price objective on Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upgraded Snap from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $19.00 in a report on Friday, January 26th. Wells Fargo & Company dropped their price objective on Snap from $22.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, February 7th. Finally, Piper Sandler boosted their price target on Snap from $12.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $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.