Harvest Fund Management Co. Ltd Raises Position in Snap Inc. (NYSE:SNAP)

Harvest Fund Management Co. Ltd boosted its position in Snap Inc. (NYSE:SNAP) by 3,121.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,604 shares of the company’s stock after purchasing an additional 6,399 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Snap were worth $112,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. lifted its position in shares of Snap by 75.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock worth $31,000 after acquiring an additional 1,500 shares in the last quarter. Allworth Financial LP boosted its stake in Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares during the period. Rakuten Securities Inc. purchased a new position in Snap during the 4th quarter valued at about $73,000. Avantax Advisory Services Inc. bought a new stake in shares of Snap during the third quarter valued at about $91,000. Finally, Jacobi Capital Management LLC bought a new position in shares of Snap in the third quarter valued at approximately $92,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Canaccord Genuity Group raised their price target on shares of Snap from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday. The Goldman Sachs Group decreased their target price on Snap from $15.00 to $13.50 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Rosenblatt Securities lifted their price target on Snap from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday. UBS Group lowered their target price on shares of Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Finally, Piper Sandler boosted their price target on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap has an average rating of “Hold” and an average price target of $14.00.

Insider Activity

In other news, CFO Derek Andersen sold 96,953 shares of Snap stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.99, for a total value of $1,065,513.47. Following the sale, the chief financial officer now owns 2,534,689 shares in the company, valued at $27,856,232.11. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Snap news, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the transaction, the chief accounting officer now owns 495,526 shares in the company, valued at approximately $5,520,159.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Derek Andersen sold 96,953 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the sale, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock worth $5,284,091 in the last quarter. Corporate insiders own 22.68% of the company’s stock.

Snap Stock Up 2.9 %

Snap stock opened at $11.40 on Friday. The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of -13.73 and a beta of 1.13. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The business has a fifty day moving average price of $11.19 and a 200-day moving average price of $12.79. Snap Inc. has a 1-year low of $7.86 and a 1-year high of $17.90.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. Equities research analysts forecast that Snap Inc. will post -0.58 EPS for the current fiscal year.

Snap Company Profile

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.