Brighton Jones LLC Lowers Holdings in Snap Inc. (NYSE:SNAP)

Brighton Jones LLC decreased its holdings in Snap Inc. (NYSE:SNAP) by 20.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,207 shares of the company’s stock after selling 3,751 shares during the period. Brighton Jones LLC’s holdings in Snap were worth $241,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Snap by 1.5% in 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 during the period. Jump Financial LLC grew its stake in Snap by 565.4% during the third quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock valued at $2,343,000 after acquiring an additional 223,432 shares in the last quarter. Allworth Financial LP increased its holdings in Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after acquiring an additional 1,708 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in Snap in the 3rd quarter worth $423,000. Finally, Korea Investment CORP boosted its holdings in shares of Snap by 191.7% during the 3rd quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock valued at $3,703,000 after purchasing an additional 273,156 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Stock Down 0.3 %

SNAP stock opened at $16.25 on Friday. The company has a quick ratio of 4.39, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. Snap Inc. has a 12 month low of $7.86 and a 12 month high of $17.90. The company has a 50-day moving average price of $11.73 and a 200 day moving average price of $13.06.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. On average, equities analysts expect that Snap Inc. will post -0.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snap news, SVP Eric Young sold 120,472 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the sale, the senior vice president now directly owns 3,540,852 shares in the company, valued at approximately $39,409,682.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Snap news, SVP Eric Young sold 120,472 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the transaction, the senior vice president now directly owns 3,540,852 shares in the company, valued at approximately $39,409,682.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 96,953 shares of the 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 transaction, the chief financial officer now owns 2,534,689 shares in the company, valued at $27,856,232.11. The disclosure for this sale can be found here. Insiders have sold 1,625,482 shares of company stock worth $21,768,311 in the last ninety days. 22.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Raymond James reaffirmed an “outperform” rating and issued a $16.00 target price (up from $15.00) on shares of Snap in a report on Friday, April 26th. Evercore ISI upped their price objective on Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a report on Friday, April 26th. Roth Mkm reiterated a “neutral” rating and set a $14.00 target price on shares of Snap in a research report on Tuesday, April 23rd. Rosenblatt Securities boosted their price target on shares of Snap from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Snap from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.79.

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.