Carnegie Capital Asset Management LLC increased its holdings in Snap Inc (NYSE:SNAP) by 110.0% during the 4th quarter, Holdings Channel reports. The firm owned 117,100 shares of the company’s stock after purchasing an additional 61,346 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Snap were worth $2,430,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Hodges Capital Management Inc. bought a new stake in shares of Snap in the third quarter worth $7,997,000. Lehman Financial Resources Inc. bought a new stake in shares of Snap in the third quarter worth $3,275,000. TB Alternative Assets Ltd. grew its stake in shares of Snap by 117.1% in the fourth quarter. TB Alternative Assets Ltd. now owns 546,600 shares of the company’s stock worth $7,986,000 after purchasing an additional 294,800 shares during the last quarter. California Public Employees Retirement System bought a new stake in shares of Snap in the third quarter worth $1,576,000. Finally, Penn Mutual Life Insurance Co bought a new stake in shares of Snap in the third quarter worth $2,646,000. 18.24% of the stock is currently owned by institutional investors.
Shares of Snap Inc (NYSE:SNAP) opened at $16.32 on Wednesday. Snap Inc has a fifty-two week low of $11.28 and a fifty-two week high of $29.44. The firm has a market cap of $19,650.00 and a PE ratio of -5.44.
Several analysts recently weighed in on the stock. Summit Redstone raised shares of Snap from a “sell” rating to a “hold” rating and set a $16.00 price objective on the stock in a research note on Wednesday, February 7th. Oppenheimer upped their price target on shares of Snap from $14.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Vetr cut shares of Snap from a “strong-buy” rating to a “buy” rating and set a $22.73 price target on the stock. in a research report on Thursday, February 8th. Aegis reaffirmed a “hold” rating and set a $18.00 price target (up previously from $13.00) on shares of Snap in a research report on Thursday, February 8th. Finally, Pivotal Research reaffirmed a “sell” rating and set a $10.00 price target on shares of Snap in a research report on Thursday, February 8th. Fifteen investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.10.
In related news, CEO Evan Spiegel sold 2,675,675 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $18.72, for a total value of $50,088,636.00. Following the sale, the chief executive officer now owns 82,329,246 shares in the company, valued at approximately $1,541,203,485.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Lynton sold 29,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $17.45, for a total transaction of $506,050.00. The disclosure for this sale can be found here. Insiders sold a total of 5,198,101 shares of company stock worth $92,316,513 in the last 90 days.
WARNING: This report was posted by Ticker Report and is the property of of Ticker Report. If you are viewing this report on another website, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/3227496/carnegie-capital-asset-management-llc-has-2-43-million-position-in-snap-inc-snap.html.
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.
Want to see what other hedge funds are holding SNAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap Inc (NYSE:SNAP).
Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.