Brevan Howard Capital Management LP Makes New $673,000 Investment in Snap Inc. (NYSE:SNAP)

Brevan Howard Capital Management LP purchased a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 62,531 shares of the company's stock, valued at approximately $673,000.

A number of other large investors also recently modified their holdings of SNAP. Checchi Capital Advisers LLC raised its stake in shares of Snap by 3.0% in the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company's stock valued at $335,000 after purchasing an additional 901 shares in the last quarter. HCR Wealth Advisors raised its stake 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 purchasing an additional 934 shares in the last quarter. Captrust Financial Advisors grew its position in Snap by 8.0% in the fourth quarter. Captrust Financial Advisors now owns 13,918 shares of the company's stock valued at $150,000 after acquiring an additional 1,030 shares during the period. The Manufacturers Life Insurance Company grew its position in Snap by 1.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company's stock valued at $661,000 after acquiring an additional 1,033 shares during the period. Finally, Empowered Funds LLC grew its position in Snap by 3.1% in the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after acquiring an additional 1,055 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Performance

SNAP stock traded up $0.94 during midday trading on Monday, reaching $9.19. 53,599,288 shares of the company's stock traded hands, compared to its average volume of 28,617,279. The company has a 50-day moving average price of $8.51 and a two-hundred day moving average price of $10.31. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a 52 week low of $7.08 and a 52 week high of $17.33. The firm has a market capitalization of $15.59 billion, a PE ratio of -21.88 and a beta of 0.61.

Snap (NYSE:SNAP - Get Free Report) last issued 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). The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The business's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the company posted $0.03 EPS. As a group, equities analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

Insider Activity

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $8.03, for a total transaction of $8,030,000.00. Following the completion of the sale, the chief technology officer now directly owns 54,517,308 shares in the company, valued at $437,773,983.24. The trade was a 1.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. O'sullivan sold 24,000 shares of Snap stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $7.74, for a total transaction of $185,760.00. Following the sale, the general counsel now directly owns 483,660 shares of the company's stock, valued at $3,743,528.40. This represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,362,523 shares of company stock worth $20,719,017 in the last three months. Corporate insiders own 22.68% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SNAP shares. JPMorgan Chase & Co. lowered their price target on Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Rosenblatt Securities decreased their target price on Snap from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company decreased their target price on Snap from $9.00 to $8.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Morgan Stanley decreased their target price on Snap from $8.00 to $6.50 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Susquehanna decreased their target price on Snap from $13.00 to $8.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $35.50.

Snap Company 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.