Avaii Wealth Management LLC Has $461,000 Stake in Snap Inc. (NYSE:SNAP)

by · The Markets Daily

Avaii Wealth Management LLC increased its holdings in Snap Inc. (NYSE:SNAP – Free Report) by 271.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,037 shares of the company’s stock after buying an additional 31,465 shares during the period. Avaii Wealth Management LLC’s holdings in Snap were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNAP. Paladin Wealth LLC acquired a new stake in shares of Snap in the third quarter valued at approximately $30,000. Hollencrest Capital Management bought a new position in Snap in the second quarter valued at approximately $33,000. Blue Trust Inc. increased its stake in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after acquiring an additional 1,682 shares during the last quarter. Rothschild Investment LLC bought a new position in Snap in the second quarter valued at approximately $40,000. Finally, J.Safra Asset Management Corp increased its stake in Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after acquiring an additional 2,330 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Down 2.3 %

Shares of SNAP stock traded down $0.25 on Thursday, reaching $10.51. 12,387,151 shares of the company were exchanged, compared to its average volume of 26,903,826. The company has a market cap of $17.25 billion, a price-to-earnings ratio of -13.26 and a beta of 1.01. The company has a 50-day moving average of $9.77 and a 200-day moving average of $12.72. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. Snap Inc. has a one year low of $8.29 and a one year high of $17.90.

Snap (NYSE:SNAP – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. Analysts anticipate that Snap Inc. will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SNAP. B. Riley began coverage on shares of Snap in a research note on Friday, September 20th. They issued a “neutral” rating and a $11.00 price objective on the stock. The Goldman Sachs Group decreased their price objective on shares of Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Benchmark reissued a “hold” rating on shares of Snap in a research note on Tuesday, August 6th. Morgan Stanley raised shares of Snap from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $12.00 to $16.00 in a research note on Tuesday, July 23rd. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $14.00 target price on shares of Snap in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.77.

Check Out Our Latest Report on SNAP

Insider Transactions at Snap

In other news, SVP Eric Young sold 114,097 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the transaction, the senior vice president now owns 3,041,723 shares of the company’s stock, valued at $27,710,096.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Young sold 114,097 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the completion of the transaction, the senior vice president now directly owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,510,352 shares of company stock valued at $13,446,353 in the last 90 days. 22.68% of the stock is currently owned by corporate insiders.

Snap Company Profile

(Free Report)

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.

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