Bayesian Capital Management LP bought a new position in Snap Inc. (NYSE:SNAP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 279,400 shares of the company's stock, valued at approximately $3,009,000.
A number of other institutional investors have also recently bought and sold shares of SNAP. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Snap during the 4th quarter valued at $27,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Snap during the fourth quarter valued at about $32,000. Osterweis Capital Management Inc. acquired a new stake in Snap during the fourth quarter worth about $43,000. Blue Trust Inc. raised its holdings in shares of Snap by 128.0% in the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after purchasing an additional 2,453 shares during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new position in shares of Snap in the 4th quarter valued at about $54,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Snap from $14.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Rosenblatt Securities cut their target price on shares of Snap from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Citigroup decreased their price target on shares of Snap from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. JMP Securities set a $12.00 price objective on Snap in a research report on Friday, April 25th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Snap in a research report on Wednesday, April 2nd. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $35.50.
Check Out Our Latest Analysis on SNAP
Snap Price Performance
Shares of SNAP traded down $0.18 during mid-day trading on Tuesday, hitting $8.37. The company's stock had a trading volume of 32,039,918 shares, compared to its average volume of 28,448,585. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The firm has a 50-day moving average price of $8.63 and a 200 day moving average price of $10.36. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $17.33. The stock has a market capitalization of $14.20 billion, a price-to-earnings ratio of -19.93 and a beta of 0.61.
Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Snap's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 earnings per share. On average, research analysts predict that Snap Inc. will post -0.3 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, General Counsel Michael J. O'sullivan sold 69,119 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $749,249.96. Following the completion of the sale, the general counsel now directly owns 2,332,140 shares in the company, valued at approximately $25,280,397.60. This trade represents a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 8,837 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the completion of the transaction, the chief accounting officer now owns 429,892 shares in the company, valued at $4,660,029.28. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,362,523 shares of company stock worth $20,719,017. 22.68% of the stock is currently owned by company insiders.
Snap Profile
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Free Report)
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.
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