Ausdal Financial Partners Inc. Acquires 271,893 Shares of Snap Inc. $SNAP

Key Points

• Ausdal Financial Partners increased its stake in Snap by 76.3%, buying 271,893 shares to hold 628,109 shares valued at about $4.84 million at the end of the quarter.
• Significant insider selling: General Counsel Zachary Briers sold 134,705 shares and CTO Robert Murphy sold 1,000,000 shares, with insiders offloading 2,526,487 shares (~$13.44M) last quarter while insiders still own 22.68% of the stock.
• Snap reported a recent quarter EPS of $0.03 (missing estimates of $0.15) on $1.72 billion revenue (+10.2% YoY), has a market cap of ~$7.72 billion, and carries a consensus "Hold" rating with a $8.17 price target from analysts.

Ausdal Financial Partners Inc. boosted its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 76.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 628,109 shares of the company's stock after purchasing an additional 271,893 shares during the quarter. Ausdal Financial Partners Inc.'s holdings in Snap were worth $4,843,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of Snap by 4,603.7% during the second quarter. SG Americas Securities LLC now owns 3,006,711 shares of the company's stock worth $26,128,000 after purchasing an additional 2,942,789 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Snap in the third quarter valued at approximately $10,375,000. Dimensional Fund Advisors LP boosted its stake in shares of Snap by 27.9% in the third quarter. Dimensional Fund Advisors LP now owns 6,117,858 shares of the company's stock valued at $47,224,000 after buying an additional 1,335,830 shares during the period. Contrarius Group Holdings Ltd acquired a new stake in Snap during the third quarter worth approximately $10,256,000. Finally, Capital World Investors grew its position in Snap by 1.5% during the third quarter. Capital World Investors now owns 87,272,463 shares of the company's stock worth $672,896,000 after buying an additional 1,316,448 shares in the last quarter. Institutional investors own 47.52% of the company's stock.

Insider Transactions at Snap

In other Snap news, General Counsel Zachary M. Briers sold 134,705 shares of the company's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total value of $633,113.50. Following the completion of the transaction, the general counsel owned 2,854,088 shares of the company's stock, valued at $13,414,213.60. This represents a 4.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $5.36, for a total value of $5,360,000.00. Following the completion of the transaction, the chief technology officer owned 49,313,775 shares of the company's stock, valued at $264,321,834. This represents a 1.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,526,487 shares of company stock valued at $13,435,587 over the last quarter. 22.68% of the stock is currently owned by insiders.

Snap Price Performance

SNAP stock opened at $4.57 on Friday. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of -16.94 and a beta of 0.83. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56. The company has a 50 day simple moving average of $6.21 and a 200 day simple moving average of $7.27. Snap Inc. has a 1 year low of $4.52 and a 1 year high of $10.41.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.12). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 EPS. Research analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SNAP. Bank of America raised Snap from a "neutral" rating to a "buy" rating and set a $10.00 price objective for the company in a report on Thursday, February 5th. Evercore reissued a "mixed" rating on shares of Snap in a report on Thursday, February 5th. Citizens Jmp restated a "market perform" rating on shares of Snap in a research report on Thursday, February 5th. Wells Fargo & Company dropped their price target on Snap from $10.00 to $8.00 and set an "equal weight" rating for the company in a research note on Thursday, February 5th. Finally, TD Cowen reduced their price objective on shares of Snap from $9.00 to $8.00 and set a "hold" rating on the stock in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Snap presently has a consensus rating of "Hold" and a consensus price target of $8.17.

Snap Company Profile

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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