200,768 Shares in Snap Inc. $SNAP Acquired by Leonteq Securities AG

Key Points

• Leonteq Securities AG disclosed a new fourth-quarter position in Snap, buying 200,768 shares valued at about $1.62 million.
• Institutional interest appears mixed but active, with several hedge funds boosting holdings sharply; overall, about 47.5% of Snap’s stock is owned by institutional investors and hedge funds.
• Snap’s recent earnings were soft, with EPS of -$0.05 missing estimates even as revenue matched expectations at $1.53 billion, and multiple insiders also sold shares in transactions tied to tax withholding on vesting awards.

Leonteq Securities AG acquired a new position in Snap Inc. (NYSE:SNAP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 200,768 shares of the company's stock, valued at approximately $1,620,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Korea Investment CORP lifted its stake in Snap by 573.6% in the third quarter. Korea Investment CORP now owns 967,544 shares of the company's stock valued at $7,460,000 after buying an additional 823,900 shares during the period. Contrarius Group Holdings Ltd acquired a new position in Snap in the third quarter valued at approximately $10,256,000. DNB Asset Management AS lifted its stake in Snap by 433.6% in the third quarter. DNB Asset Management AS now owns 1,042,873 shares of the company's stock valued at $8,041,000 after buying an additional 847,447 shares during the period. Quantbot Technologies LP lifted its stake in Snap by 54.4% in the third quarter. Quantbot Technologies LP now owns 749,724 shares of the company's stock valued at $5,780,000 after buying an additional 264,156 shares during the period. Finally, Ausdal Financial Partners Inc. lifted its stake in Snap by 76.3% in the third quarter. Ausdal Financial Partners Inc. now owns 628,109 shares of the company's stock valued at $4,843,000 after buying an additional 271,893 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snap

In other Snap news, General Counsel Zachary M. Briers sold 129,493 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.60, for a total value of $725,160.80. Following the completion of the transaction, the general counsel owned 2,644,538 shares in the company, valued at $14,809,412.80. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ajit Mohan sold 44,785 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.60, for a total value of $250,796.00. Following the completion of the transaction, the insider owned 5,057,891 shares of the company's stock, valued at $28,324,189.60. This trade represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 2,665,427 shares of company stock worth $14,514,853. Company insiders own 22.68% of the company's stock.

Snap Trading Up 1.2%

Shares of Snap stock opened at $5.69 on Friday. The stock has a fifty day simple moving average of $5.23 and a 200 day simple moving average of $6.43. Snap Inc. has a 12-month low of $3.81 and a 12-month high of $10.41. The company has a market capitalization of $9.61 billion, a P/E ratio of -23.70 and a beta of 1.05. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.67.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company posted ($0.08) EPS. The company's quarterly revenue was up 12.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Snap Inc. will post -0.07 earnings per share for the current fiscal year.

Key Headlines Impacting Snap

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Snap added Luke Wood, former Beats president and Apple executive, to its board of directors. Investors may view this as a credibility boost for leadership and a sign Snap is leaning on experienced consumer-tech talent to support its strategy. Luke Wood Joins Snap Inc. Board of Directors
• Neutral Sentiment: CFO Douglas Hott, General Counsel Zachary M. Briers, and CAO Rebecca Morrow all disclosed share sales, but each filing said the transactions were to cover tax withholding tied to vesting equity awards. That makes the sales more routine than a clear sign of waning confidence, though the timing may still attract attention. SEC filing for CFO Douglas Hott
• Neutral Sentiment: The insider selling was broad-based and included multiple transactions over May 18-19, which can create near-term caution even if the sales were pre-planned or tax-related. SEC filing for Zachary M. Briers
• Negative Sentiment: Multiple executive sales in a short period can weigh on Snap Inc. NYSE: SNAP sentiment, especially after a recent earnings report that missed profit expectations. Traders may worry that management sees limited near-term upside, even though the company said the sales were for tax reasons. SEC filing for Rebecca Morrow

Analyst Upgrades and Downgrades

SNAP has been the topic of several recent analyst reports. BMO Capital Markets boosted their price target on Snap from $13.00 to $15.00 and gave the company an "outperform" rating in a research note on Wednesday, April 15th. Cantor Fitzgerald dropped their price target on Snap from $9.00 to $7.00 and set a "neutral" rating on the stock in a research note on Thursday, February 5th. The Goldman Sachs Group dropped their price target on Snap from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Rothschild & Co Redburn raised Snap from a "neutral" rating to a "buy" rating and set a $10.00 price target on the stock in a research note on Monday, April 27th. Finally, Rosenblatt Securities reissued a "neutral" rating and issued a $6.40 price target on shares of Snap in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $7.91.

About Snap

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.

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