Snap Inc. (NYSE:SNAP) Shares Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Snap Inc. (NYSE:SNAP) by 10.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,691 shares of the company’s stock after purchasing an additional 30,166 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Snap were worth $5,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Snap by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after purchasing an additional 1,352,655 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Snap by 4.1% during the third quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock worth $73,666,000 after buying an additional 327,038 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Snap by 6.1% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,301,300 shares of the company’s stock valued at $38,325,000 after acquiring an additional 245,555 shares during the period. Northern Trust Corp boosted its stake in shares of Snap by 0.3% during the 3rd quarter. Northern Trust Corp now owns 4,091,981 shares of the company’s stock worth $36,460,000 after acquiring an additional 10,583 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Snap by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,213,526 shares of the company’s stock worth $28,633,000 after acquiring an additional 21,937 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Price Performance

SNAP stock traded up $0.29 during trading on Tuesday, hitting $17.13. The company had a trading volume of 24,949,572 shares, compared to its average volume of 32,354,307. The firm has a market capitalization of $28.11 billion, a price-to-earnings ratio of -20.78 and a beta of 1.02. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 1.55. The business has a 50 day moving average of $11.85 and a 200 day moving average of $13.16. Snap Inc. has a fifty-two week low of $8.15 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. As a group, research analysts predict that Snap Inc. will post -0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on SNAP shares. TD Cowen boosted their target price on Snap from $11.00 to $14.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. The Goldman Sachs Group lifted their target price on shares of Snap from $13.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Piper Sandler increased their price target on shares of Snap from $12.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Truist Financial lifted their price objective on Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, Evercore ISI raised their price target on Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus target price of $14.79.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $15.10, for a total value of $271,800.00. Following the transaction, the general counsel now owns 456,812 shares in the company, valued at $6,897,861.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Snap news, CEO Evan Spiegel sold 150,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $14.35, for a total value of $2,152,500.00. Following the completion of the transaction, the chief executive officer now directly owns 3,477,844 shares in the company, valued at $49,907,061.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $15.10, for a total transaction of $271,800.00. Following the sale, the general counsel now owns 456,812 shares in the company, valued at approximately $6,897,861.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,625,482 shares of company stock valued at $21,768,311 over the last three months.

About Snap

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.