Ausdal Financial Partners Inc. Has $4.84 Million Stock Holdings in Snap Inc. $SNAP

Ausdal Financial Partners Inc. boosted its holdings in shares of Snap Inc. (NYSE:SNAP) by 76.3% during the third quarter, HoldingsChannel reports. The fund owned 628,109 shares of the company’s stock after purchasing an additional 271,893 shares during the quarter. Ausdal Financial Partners Inc.’s holdings in Snap were worth $4,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Snap during the third quarter valued at $33,000. Banque Cantonale Vaudoise acquired a new position in shares of Snap during the third quarter worth $39,000. Grey Fox Wealth Advisors LLC bought a new stake in shares of Snap in the third quarter worth $53,000. CoreCap Advisors LLC grew its stake in shares of Snap by 826.1% in the third quarter. CoreCap Advisors LLC now owns 9,363 shares of the company’s stock worth $72,000 after purchasing an additional 8,352 shares during the last quarter. Finally, West Tower Group LLC acquired a new stake in Snap in the third quarter valued at $77,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Trading Down 1.7%

NYSE SNAP opened at $4.57 on Friday. The stock has a market capitalization of $7.72 billion, a P/E ratio of -16.94 and a beta of 0.83. The business has a 50 day simple moving average of $6.21 and a 200 day simple moving average of $7.27. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56. Snap Inc. has a one year low of $4.52 and a one year high of $10.41.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.12). The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. Snap’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. Research analysts expect that Snap Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNAP. TD Cowen lowered their target price on Snap from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. Bank of America upgraded Snap from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Thursday, February 5th. Citigroup decreased their price target on Snap from $10.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Guggenheim restated a “neutral” rating and set a $6.50 price objective on shares of Snap in a research report on Thursday, February 5th. Finally, Cantor Fitzgerald cut their price objective on Snap from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Snap currently has an average rating of “Hold” and an average price target of $8.17.

Insider Buying and Selling

In related news, insider Ajit Mohan sold 119,339 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total transaction of $560,893.30. Following the transaction, the insider directly owned 5,158,477 shares of the company’s stock, valued at $24,244,841.90. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Derek Andersen sold 63,041 shares of Snap stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total transaction of $296,292.70. Following the completion of the sale, the chief financial officer directly owned 3,892,617 shares of the company’s stock, valued at approximately $18,295,299.90. This trade represents a 1.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,526,487 shares of company stock worth $13,435,587 over the last ninety days. 22.68% of the stock is owned by company insiders.

About Snap

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.