EverSource Wealth Advisors LLC Has $35,000 Stock Holdings in Snap Inc. (NYSE:SNAP)

Posted by Defense World Staff on May 20th, 2023

EverSource Wealth Advisors LLC lifted its stake in shares of Snap Inc. (NYSE:SNAP – Get Rating) by 738.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,855 shares of the company’s stock after buying an additional 3,395 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Snap were worth $35,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fiduciary Alliance LLC bought a new position in Snap during the fourth quarter worth about $26,000. Sonnipe Ltd bought a new position in Snap during the fourth quarter worth about $30,000. Boit C F David bought a new position in Snap during the third quarter worth about $34,000. Belpointe Asset Management LLC bought a new position in Snap during the fourth quarter worth about $53,000. Finally, PFG Private Wealth Management LLC increased its position in Snap by 72.8% during the third quarter. PFG Private Wealth Management LLC now owns 7,835 shares of the company’s stock worth $77,000 after acquiring an additional 3,300 shares during the period. Institutional investors and hedge funds own 43.30% of the company’s stock.

Analyst Ratings Changes

SNAP has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of Snap from $8.00 to $9.00 and gave the stock a “market perform” rating in a research report on Monday, April 17th. Piper Sandler lowered their price target on shares of Snap from $9.00 to $8.00 in a research report on Friday, April 28th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Snap from $9.00 to $8.00 in a research report on Friday, April 28th. Royal Bank of Canada decreased their target price on shares of Snap from $10.00 to $9.00 in a report on Friday, April 28th. Finally, Truist Financial decreased their target price on shares of Snap from $8.00 to $7.00 in a report on Friday, April 28th. Three analysts have rated the stock with a sell rating, thirty have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Snap presently has an average rating of “Hold” and a consensus price target of $11.69.

Insider Transactions at Snap

In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $10.15, for a total transaction of $131,950.00. Following the transaction, the general counsel now owns 491,330 shares in the company, valued at approximately $4,986,999.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Rebecca Morrow sold 5,617 shares of the stock in a transaction on Monday, April 17th. The shares were sold at an average price of $10.69, for a total transaction of $60,045.73. Following the transaction, the chief accounting officer now directly owns 252,497 shares of the company’s stock, valued at $2,699,192.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $10.15, for a total transaction of $131,950.00. Following the transaction, the general counsel now directly owns 491,330 shares in the company, valued at $4,986,999.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 372,012 shares of company stock worth $3,536,695. Company insiders own 22.68% of the company’s stock.

Snap Stock Up 0.3 %

Shares of NYSE SNAP opened at $9.72 on Friday. The company has a market capitalization of $15.57 billion, a P/E ratio of -11.17 and a beta of 1.19. Snap Inc. has a 52-week low of $7.33 and a 52-week high of $24.16. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.71 and a current ratio of 4.71. The company’s 50 day moving average price is $10.07 and its 200-day moving average price is $10.05.

Snap Profile

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Snap, Inc operates as a camera company. Its flagship product, Snapchat, is a camera application that helps people communicate visually with friends and family through short videos and images called Snaps. The firm’s primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C.