Assenagon Asset Management S.A. Sells 6,309,200 Shares of Snap Inc. $SNAP

Key Points

• Assenagon Asset Management S.A. sold 6,309,200 shares of Snap Inc., reducing its holdings by 92.1% to 539,170 shares valued at approximately $4.68 million.
• Snap's stock is currently trading at $8.23 with a market capitalization of $13.90 billion and shows a downward trend, down 2.3%.
• Recent analyst ratings for Snap have been largely negative, with Citigroup downgrading the stock and a consensus rating of "Hold" from various analysts.

Assenagon Asset Management S.A. decreased its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 92.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 539,170 shares of the company's stock after selling 6,309,200 shares during the period. Assenagon Asset Management S.A.'s holdings in Snap were worth $4,685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NBC Securities Inc. increased its stake in shares of Snap by 154,650.0% in the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock valued at $26,000 after purchasing an additional 3,093 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of Snap by 155.4% in the 1st quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock valued at $30,000 after purchasing an additional 2,123 shares during the last quarter. Quarry LP bought a new position in shares of Snap in the 1st quarter valued at $34,000. Itau Unibanco Holding S.A. bought a new position in shares of Snap in the 1st quarter valued at $35,000. Finally, Wealth Preservation Advisors LLC bought a new position in shares of Snap in the 1st quarter valued at $44,000. Institutional investors own 47.52% of the company's stock.

Snap Stock Down 2.3%

Shares of NYSE:SNAP opened at $8.23 on Thursday. The company has a market capitalization of $13.90 billion, a price-to-earnings ratio of -25.70 and a beta of 0.62. The business's 50-day moving average is $8.06 and its 200-day moving average is $8.38. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88. Snap Inc. has a 1 year low of $6.90 and a 1 year high of $13.28.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted ($0.15) EPS. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. Snap has set its Q3 2025 guidance at EPS. Equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SNAP shares. Citigroup downgraded Snap from an "outperform" rating to a "negative" rating in a report on Tuesday, July 15th. Citizens Jmp reissued a "market perform" rating on shares of Snap in a report on Wednesday, August 6th. Zacks Research downgraded Snap from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. TD Cowen raised their price objective on Snap from $9.00 to $10.00 and gave the company a "hold" rating in a report on Tuesday, July 15th. Finally, UBS Group cut their price objective on Snap from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $35.84.

Insider Transactions at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $7.80, for a total transaction of $7,800,000.00. Following the transaction, the chief technology officer directly owned 53,215,224 shares of the company's stock, valued at approximately $415,078,747.20. This represents a 1.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. O'sullivan sold 68,705 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $7.18, for a total value of $493,301.90. Following the sale, the general counsel directly owned 2,015,624 shares of the company's stock, valued at $14,472,180.32. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,510,532 shares of company stock valued at $11,650,269 in the last 90 days. Corporate insiders own 22.68% of the company's stock.

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.

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