Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $1.05 Million Position in Snap Inc. (NYSE:SNAP)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Snap Inc. (NYSE:SNAP) by 42.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,433 shares of the company’s stock after acquiring an additional 4,573 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Snap were worth $1,052,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Snap by 2.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 129,244,796 shares of the company’s stock valued at $6,758,211,000 after acquiring an additional 2,841,583 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Snap during the 1st quarter valued at $2,031,464,000. Lone Pine Capital LLC grew its holdings in shares of Snap by 23.1% during the 1st quarter. Lone Pine Capital LLC now owns 24,015,574 shares of the company’s stock valued at $1,255,774,000 after acquiring an additional 4,504,987 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Snap by 10.8% during the 1st quarter. Janus Henderson Group PLC now owns 20,686,704 shares of the company’s stock valued at $1,081,706,000 after acquiring an additional 2,017,296 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Snap by 11.7% during the 1st quarter. Geode Capital Management LLC now owns 8,011,097 shares of the company’s stock valued at $418,105,000 after acquiring an additional 838,242 shares in the last quarter. Institutional investors and hedge funds own 52.55% of the company’s stock.

Shares of SNAP opened at $83.11 on Friday. The company has a 50-day simple moving average of $73.80 and a 200-day simple moving average of $64.75. The firm has a market capitalization of $131.41 billion, a P/E ratio of -162.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.88, a quick ratio of 5.80 and a current ratio of 5.80. Snap Inc. has a 52 week low of $24.13 and a 52 week high of $83.34.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, July 22nd. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.28. Snap had a negative net margin of 22.49% and a negative return on equity of 32.45%. The firm had revenue of $982.11 million during the quarter, compared to analyst estimates of $846.57 million. During the same quarter in the prior year, the business posted ($0.09) earnings per share. The company’s quarterly revenue was up 116.2% compared to the same quarter last year. As a group, equities analysts forecast that Snap Inc. will post -0.4 earnings per share for the current year.

Several research firms have recently commented on SNAP. The Goldman Sachs Group began coverage on shares of Snap in a report on Monday, September 13th. They set a “buy” rating and a $90.00 price target on the stock. JMP Securities upped their price objective on shares of Snap from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. Citigroup reiterated a “sell” rating and issued a $76.32 price objective (up from $42.00) on shares of Snap in a report on Tuesday, July 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Snap in a report on Friday, July 23rd. Finally, Stifel Nicolaus upped their price objective on shares of Snap from $84.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $75.77.

In related news, insider Jeremi Gorman sold 35,787 shares of the stock in a transaction dated Thursday, September 16th. The shares were sold at an average price of $72.23, for a total value of $2,584,895.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan Spiegel sold 213,325 shares of the stock in a transaction dated Tuesday, July 6th. The stock was sold at an average price of $70.02, for a total transaction of $14,937,016.50. Following the completion of the transaction, the chief executive officer now directly owns 40,996,154 shares of the company’s stock, valued at approximately $2,870,550,703.08. The disclosure for this sale can be found here. Insiders sold 4,021,237 shares of company stock valued at $300,417,072 in the last three months.

Snap Profile

Snap, Inc engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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