TCI Wealth Advisors Inc. Buys 1,400 Shares of Snap Inc (SNAP)

TCI Wealth Advisors Inc. raised its position in Snap Inc (NYSE:SNAP) by 70.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,400 shares of the company’s stock after purchasing an additional 1,400 shares during the period. TCI Wealth Advisors Inc.’s holdings in Snap were worth $37,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC boosted its holdings in Snap by 306.5% during the 4th quarter. FNY Investment Advisers LLC now owns 5,000 shares of the company’s stock worth $27,000 after acquiring an additional 3,770 shares during the last quarter. Edge Wealth Management LLC boosted its holdings in shares of Snap by 1,173.7% in the 4th quarter. Edge Wealth Management LLC now owns 5,426 shares of the company’s stock worth $30,000 after buying an additional 5,000 shares during the last quarter. Atlas Capital Advisors LLC purchased a new position in shares of Snap in the 4th quarter worth about $41,000. Wedbush Securities Inc. purchased a new position in shares of Snap in the 4th quarter worth about $55,000. Finally, Sigma Planning Corp purchased a new position in shares of Snap in the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 23.18% of the company’s stock.

Shares of NYSE:SNAP traded up $0.56 during trading on Friday, reaching $11.80. 19,205,315 shares of the company traded hands, compared to its average volume of 27,909,584. The firm has a market cap of $15.59 billion, a PE ratio of -12.16 and a beta of 1.18. Snap Inc has a 52-week low of $4.82 and a 52-week high of $14.47.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The company had revenue of $320.43 million for the quarter, compared to analysts’ expectations of $306.28 million. Snap had a negative net margin of 92.94% and a negative return on equity of 47.71%. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period last year, the company posted ($0.17) EPS. As a group, equities research analysts forecast that Snap Inc will post -0.76 EPS for the current fiscal year.

SNAP has been the topic of a number of research analyst reports. Royal Bank of Canada raised shares of Snap from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $10.00 to $17.00 in a report on Friday, April 5th. Zacks Investment Research raised shares of Snap from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Monday, February 18th. Citigroup raised shares of Snap from a “sell” rating to a “neutral” rating and set a $7.00 price objective on the stock in a report on Monday, January 14th. Goldman Sachs Group downgraded shares of Snap from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $6.00 in a report on Friday, January 4th. Finally, Barclays upped their price target on Snap from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Four equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.18.

In other Snap news, CEO Evan Spiegel sold 4,447,107 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $9.98, for a total value of $44,382,127.86. Following the completion of the transaction, the chief executive officer now owns 74,450,661 shares in the company, valued at $743,017,596.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Lara Sweet sold 22,818 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $12.00, for a total value of $273,816.00. Following the completion of the transaction, the chief financial officer now owns 642,690 shares of the company’s stock, valued at approximately $7,712,280. The disclosure for this sale can be found here. Insiders sold 6,680,351 shares of company stock valued at $66,991,162 in the last ninety days.

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Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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