Graham Capital Management L.P. Purchases Shares of 136,147 Snap Inc. (NYSE:SNAP)

Graham Capital Management L.P. acquired a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 136,147 shares of the company's stock, valued at approximately $1,466,000.

Several other hedge funds have also recently bought and sold shares of SNAP. FNY Investment Advisers LLC raised its position in shares of Snap by 1,756.8% in the fourth quarter. FNY Investment Advisers LLC now owns 13,740 shares of the company's stock valued at $147,000 after buying an additional 13,000 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Snap by 51.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company's stock valued at $33,244,000 after buying an additional 1,050,501 shares in the last quarter. HCR Wealth Advisors raised its position in shares of Snap by 3.9% in the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company's stock valued at $269,000 after buying an additional 934 shares in the last quarter. RDA Financial Network acquired a new stake in shares of Snap in the fourth quarter valued at approximately $123,000. Finally, Avanza Fonder AB acquired a new stake in shares of Snap in the fourth quarter valued at approximately $788,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Price Performance

Shares of NYSE:SNAP traded up $0.16 during trading on Friday, hitting $8.74. 30,896,660 shares of the company were exchanged, compared to its average volume of 28,751,446. The business's 50 day moving average is $8.48 and its 200-day moving average is $10.24. The company has a market capitalization of $14.60 billion, a P/E ratio of -20.81 and a beta of 0.61. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 1-year low of $7.08 and a 1-year high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company posted $0.03 earnings per share. The firm's quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Rebecca Morrow sold 8,837 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the sale, the chief accounting officer now owns 429,892 shares of the company's stock, valued at $4,660,029.28. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Michael J. O'sullivan sold 14,183 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $125,235.89. Following the completion of the sale, the general counsel now directly owns 2,256,101 shares in the company, valued at approximately $19,921,371.83. This represents a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,632,116 shares of company stock valued at $23,127,182 over the last 90 days. 22.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SNAP shares. Rosenblatt Securities dropped their price target on shares of Snap from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Canaccord Genuity Group dropped their price target on shares of Snap from $10.00 to $9.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price target on shares of Snap from $10.00 to $8.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus dropped their price target on shares of Snap from $11.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Finally, Guggenheim reissued a "neutral" rating on shares of Snap in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $35.62.

About Snap

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.