Assenagon Asset Management S.A. Increases Position in Snap Inc. (NYSE:SNAP)

Assenagon Asset Management S.A. lifted its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 121.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,848,370 shares of the company's stock after acquiring an additional 3,761,629 shares during the quarter. Assenagon Asset Management S.A. owned 0.40% of Snap worth $59,649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. NBC Securities Inc. boosted its holdings in Snap by 154,650.0% during the first quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after buying an additional 3,093 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in Snap during the fourth quarter worth about $27,000. Raiffeisen Bank International AG purchased a new stake in Snap during the fourth quarter worth about $30,000. Osterweis Capital Management Inc. purchased a new stake in Snap during the fourth quarter worth about $43,000. Finally, Blue Trust Inc. boosted its holdings in 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. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Trading Down 4.2%

Shares of SNAP stock traded down $0.35 during mid-day trading on Friday, hitting $7.95. 37,743,315 shares of the company's stock were exchanged, compared to its average volume of 29,490,099. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $17.33. The stock has a 50-day simple moving average of $8.31 and a two-hundred day simple moving average of $9.83. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of -18.94 and a beta of 0.59.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.12). The firm had revenue of $1.36 billion during 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 company's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. Equities analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Michael J. O'sullivan sold 24,000 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $7.74, for a total value of $185,760.00. Following the transaction, the general counsel now directly owns 483,660 shares of the company's stock, valued at approximately $3,743,528.40. This trade represents a 4.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 9,202 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $8.59, for a total value of $79,045.18. Following the completion of the transaction, the chief accounting officer now directly owns 448,881 shares in the company, valued at $3,855,887.79. 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 ninety days, insiders have sold 1,611,593 shares of company stock valued at $13,346,752. 22.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SNAP has been the topic of a number of research analyst reports. Morgan Stanley decreased their price objective on shares of Snap from $8.00 to $6.50 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. B. Riley decreased their price objective on shares of Snap from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Loop Capital reduced their price target on shares of Snap from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Wells Fargo & Company lowered their price target on shares of Snap from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Finally, Bank of America cut their price objective on Snap from $14.50 to $10.50 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Snap presently has a consensus rating of "Hold" and an average price target of $35.62.

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.