Bridgefront Capital LLC Has $233,000 Stock Position in Snap Inc. (NYSE:SNAP)

Bridgefront Capital LLC lessened its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 73.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,657 shares of the company's stock after selling 60,004 shares during the quarter. Bridgefront Capital LLC's holdings in Snap were worth $233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors increased its stake in Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company's stock worth $906,161,000 after purchasing an additional 23,569,522 shares during the period. SRS Investment Management LLC increased its stake in Snap by 1.4% during the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company's stock worth $793,998,000 after buying an additional 1,001,632 shares during the period. Capital International Investors acquired a new stake in shares of Snap in the fourth quarter valued at $422,049,000. Geode Capital Management LLC raised its position in Snap by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company's stock valued at $127,078,000 after purchasing an additional 134,017 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Snap by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock worth $71,095,000 after buying an additional 389,812 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap Stock Performance

Shares of NYSE:SNAP traded down $0.11 during trading on Tuesday, reaching $9.10. 33,109,254 shares of the company's stock traded hands, compared to its average volume of 34,951,238. The stock has a market capitalization of $15.44 billion, a P/E ratio of -21.67 and a beta of 0.61. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $17.33. The company has a 50 day moving average of $8.51 and a 200-day moving average of $10.31. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95.

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

Insider Transactions at Snap

In other news, CAO Rebecca Morrow sold 8,837 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the sale, the chief accounting officer now directly owns 429,892 shares of the company's stock, valued at $4,660,029.28. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Derek Andersen sold 61,334 shares of the company'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 completion of the sale, the chief financial officer now owns 3,564,235 shares of the company's stock, valued at $38,636,307.40. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,362,523 shares of company stock valued at $20,719,017 over the last quarter. Company insiders own 22.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on SNAP shares. Morgan Stanley dropped their price objective on Snap from $8.00 to $6.50 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus lowered their price target on Snap from $11.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. B. Riley cut their price objective on shares of Snap from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Susquehanna dropped their target price on Snap from $13.00 to $8.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group reduced their price objective on shares of Snap from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Snap has a consensus rating of "Hold" and an average price target of $35.50.

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.