Laurel Wealth Advisors Inc. purchased a new stake in shares of Snap Inc (NYSE:SNAP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,100 shares of the company’s stock, valued at approximately $279,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its stake in shares of Snap by 967.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,005 shares of the company’s stock valued at $116,000 after purchasing an additional 7,255 shares during the period. Aperio Group LLC bought a new stake in shares of Snap during the 4th quarter valued at $149,000. First Allied Advisory Services Inc. bought a new stake in shares of Snap during the 4th quarter valued at $152,000. Stratos Wealth Partners LTD. bought a new stake in shares of Snap during the 3rd quarter valued at $206,000. Finally, Alps Advisors Inc. bought a new stake in shares of Snap during the 4th quarter valued at $207,000. 18.56% of the stock is currently owned by hedge funds and other institutional investors.
Snap Inc (NYSE:SNAP) opened at $17.01 on Friday. Snap Inc has a 1 year low of $11.28 and a 1 year high of $24.40.
A number of analysts recently issued reports on SNAP shares. JMP Securities lowered Snap from an “outperform” rating to a “market perform” rating in a research note on Sunday, November 26th. Wells Fargo reiterated a “hold” rating on shares of Snap in a research note on Wednesday, November 29th. Deutsche Bank reiterated a “hold” rating and set a $11.00 price objective on shares of Snap in a research note on Thursday, November 30th. Barclays upgraded Snap from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $11.00 to $18.00 in a research note on Tuesday, December 5th. Finally, Evercore ISI started coverage on Snap in a research note on Tuesday, December 5th. They set an “underperform” rating and a $7.00 price objective on the stock. Fifteen equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.06.
In other news, CEO Evan Spiegel sold 2,675,675 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $18.72, for a total transaction of $50,088,636.00. Following the transaction, the chief executive officer now directly owns 82,329,246 shares in the company, valued at approximately $1,541,203,485.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mitchell Lasky sold 25,000 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $15.81, for a total value of $395,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,732,866 shares of company stock worth $104,531,069 over the last quarter.
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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