Several hedge funds increased their stakes in Snap Inc. (SNAP). For example, Steward Partners raised its holdings by 2.2% to 41,245 shares, valued at $698,000. GraniteShares Advisors grew its stake by 2.5% to 38,154 shares, worth $634,000. Other firms also made increases, with B. Riley Wealth Advisors boosting its holdings by 6.7% in the fourth quarter, owning 19,640 shares now valued at $333,000. Overall, institutional investors own 47.52% of Snap.
Insider Transactions
In recent transactions, Snap’s CTO Robert Murphy sold 1,000,000 shares at $8.69, totaling $8,690,000, yet retains 58,553,813 shares valued at about $509 million. General Counsel Michael OSullivan also sold 18,000 shares for $239,040. In total, insiders sold 1,511,540 shares worth $13.47 million over the past 90 days, holding 22.68% of Snap.
Snap Stock Overview
Snap’s stock (NYSE:SNAP) opened at $10.74 recently, with a market cap of $17.62 billion. The company reported a quarterly EPS of -$0.13, better than expected, with revenues of $1.24 billion. Analysts predict a full-year EPS of -$0.47.
Analyst Ratings
Analysts have mixed ratings on Snap. JMP Securities maintains a “market perform” rating, while others have set price targets between $8.00 and $11.00. The consensus rating is “Hold” with an average price target of $14.00.
Check Out Our Latest Analysis on Snap
Company Profile
Snap Inc. operates globally, offering Snapchat, a popular visual messaging app allowing users to share multimedia content.
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