North Star Investment Management Corp. Has $121,000 Stake in Snap Inc. (NYSE:SNAP)


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North Star Investment Management Corp. grew its holdings in Snap Inc. (NYSE:SNAP) by 61.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,425 shares of the company’s stock after buying an additional 925 shares during the period. North Star Investment Management Corp.’s holdings in Snap were worth $121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNAP. San Francisco Sentry Investment Group CA acquired a new stake in shares of Snap in the third quarter valued at approximately $26,000. Clear Harbor Asset Management LLC acquired a new stake in shares of Snap in the third quarter valued at approximately $31,000. M&R Capital Management Inc. lifted its position in shares of Snap by 160.0% in the third quarter. M&R Capital Management Inc. now owns 1,625 shares of the company’s stock valued at $42,000 after buying an additional 1,000 shares during the last quarter. Pflug Koory LLC acquired a new stake in shares of Snap in the third quarter valued at approximately $50,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Snap by 431.4% in the third quarter. Exchange Traded Concepts LLC now owns 1,897 shares of the company’s stock valued at $50,000 after buying an additional 1,540 shares during the last quarter. 47.00% of the stock is owned by institutional investors.

In other Snap news, insider Jared Grusd sold 52,728 shares of the company’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $28.03, for a total value of $1,477,965.84. Following the sale, the insider now owns 1,882,272 shares in the company, valued at approximately $52,760,084.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jerry James Hunter sold 7,721 shares of the company’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $28.30, for a total value of $218,504.30. Following the completion of the sale, the vice president now owns 2,003,121 shares in the company, valued at approximately $56,688,324.30. The disclosure for this sale can be found here. Insiders have sold a total of 2,269,049 shares of company stock worth $85,167,118 in the last 90 days.

Several analysts recently weighed in on SNAP shares. Argus lifted their price target on Snap from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Truist raised Snap from a “hold” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $43.00 in a report on Wednesday, October 21st. Stifel Nicolaus lifted their price target on Snap from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Barclays lifted their price target on Snap from $29.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Finally, KeyCorp lifted their price target on Snap from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Snap has an average rating of “Buy” and an average target price of $37.69.

Shares of SNAP stock opened at $53.43 on Thursday. The firm has a market capitalization of $79.61 billion, a P/E ratio of -71.24 and a beta of 1.52. Snap Inc. has a twelve month low of $7.89 and a twelve month high of $57.39. The company has a quick ratio of 5.99, a current ratio of 5.99 and a debt-to-equity ratio of 0.74. The stock’s fifty day simple moving average is $50.36 and its 200 day simple moving average is $33.61.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.19. The business had revenue of $678.67 million for the quarter, compared to analyst estimates of $551.36 million. Snap had a negative return on equity of 49.08% and a negative net margin of 57.18%. Snap’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) EPS. As a group, equities research analysts expect that Snap Inc. will post -0.71 EPS for the current fiscal year.

Snap 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 called Snaps. It also provides Camera, a tool to personalize and add context to Snaps; Chat 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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