Empowered Funds LLC Acquires 1,055 Shares of Snap Inc. (NYSE:SNAP)

Empowered Funds LLC increased its holdings in Snap Inc. (NYSE:SNAP) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 35,639 shares of the company’s stock after purchasing an additional 1,055 shares during the period. Empowered Funds LLC’s holdings in Snap were worth $384,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SNAP. Charles Schwab Investment Management Inc. boosted its holdings in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after purchasing an additional 2,386,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after purchasing an additional 1,297,348 shares in the last quarter. Groupama Asset Managment bought a new stake in Snap in the third quarter worth $13,032,000. Assenagon Asset Management S.A. lifted its position in Snap by 51.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock worth $33,244,000 after acquiring an additional 1,050,501 shares during the last quarter. Finally, Senvest Management LLC acquired a new position in Snap during the 3rd quarter worth $10,064,000. 47.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $11.89, for a total transaction of $214,020.00. Following the sale, the general counsel now directly owns 464,009 shares of the company’s stock, valued at $5,517,067.01. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca Morrow sold 32,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $12.42, for a total transaction of $397,440.00. Following the completion of the transaction, the chief accounting officer now owns 433,064 shares in the company, valued at $5,378,654.88. This represents a 6.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,029 shares of company stock valued at $2,991,695 over the last three months.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their target price on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Truist Financial boosted their target price on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $16.00 target price (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Finally, B. Riley boosted their target price on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.87.

Snap Price Performance

Shares of Snap stock opened at $10.79 on Thursday. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $18.30 billion, a price-to-earnings ratio of -25.68 and a beta of 0.99. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33. The firm’s 50-day moving average price is $11.22 and its two-hundred day moving average price is $10.73.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, equities analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

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.