Freestone Grove Partners LP Takes $20.73 Million Position in Snap Inc. (NYSE:SNAP)

Freestone Grove Partners LP bought a new stake in Snap Inc. (NYSE:SNAP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,924,691 shares of the company's stock, valued at approximately $20,729,000. Freestone Grove Partners LP owned 0.11% of Snap as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SNAP. Mountain Hill Investment Partners Corp. acquired a new stake in Snap during the 4th quarter worth approximately $27,000. Comprehensive Financial Planning Inc. PA bought a new position in Snap during the 4th quarter worth about $32,000. Osterweis Capital Management Inc. acquired a new stake in shares of Snap in the 4th quarter valued at about $43,000. Blue Trust Inc. grew its holdings in shares of Snap by 128.0% during the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after buying an additional 2,453 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in shares of Snap during the 4th quarter worth approximately $54,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Derek Andersen sold 61,334 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $664,860.56. Following the sale, the chief financial officer now directly owns 3,564,235 shares in the company, valued at approximately $38,636,307.40. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 8,837 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the transaction, the chief accounting officer now owns 429,892 shares of the company's stock, valued at $4,660,029.28. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,362,523 shares of company stock valued at $20,719,017. 22.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNAP. Piper Sandler reduced their target price on shares of Snap from $13.00 to $10.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Susquehanna decreased their target price on shares of Snap from $13.00 to $8.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Stifel Nicolaus reduced their price target on Snap from $11.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. UBS Group dropped their price objective on Snap from $14.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, The Goldman Sachs Group dropped their price target on Snap from $9.50 to $8.50 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Snap currently has an average rating of "Hold" and an average target price of $35.50.

Snap Stock Performance

Shares of Snap stock traded down $0.28 during mid-day trading on Wednesday, hitting $8.09. 10,183,464 shares of the stock were exchanged, compared to its average volume of 28,380,715. The company has a market capitalization of $13.72 billion, a P/E ratio of -19.27 and a beta of 0.61. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The company has a 50-day simple moving average of $8.63 and a 200 day simple moving average of $10.36. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $1.35 billion. During the same quarter last year, the business posted $0.03 EPS. The business's quarterly revenue was up 14.1% on a year-over-year basis. Sell-side analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Snap 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.