Snap Inc. (NYSE:SNAP) Shares Bought by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft increased its stake in Snap Inc. by 26.7% in the first quarter, owning 203,760 shares valued at approximately $1.77 million.
• Wall Street analysts maintain a consensus rating of "Hold" for Snap, with an average price target of $33.95, despite recent rating adjustments.
• Snap's recent earnings report showed a revenue increase of 14.1% year-over-year, but it missed earnings expectations with a reported loss of ($0.08) per share.

Baader Bank Aktiengesellschaft raised its position in Snap Inc. (NYSE:SNAP - Free Report) by 26.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 203,760 shares of the company's stock after buying an additional 42,969 shares during the period. Baader Bank Aktiengesellschaft's holdings in Snap were worth $1,768,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC acquired a new position in Snap during the first quarter worth about $122,000. NBC Securities Inc. raised its stake 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 purchasing an additional 3,093 shares during the period. Ameriprise Financial Inc. raised its stake in Snap by 2.4% during the fourth quarter. Ameriprise Financial Inc. now owns 157,118 shares of the company's stock worth $1,692,000 after purchasing an additional 3,710 shares during the period. Sei Investments Co. purchased a new position in Snap during the fourth quarter worth about $158,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Snap by 12.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 26,841 shares of the company's stock worth $234,000 after purchasing an additional 2,918 shares during the period. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap Stock Up 0.9%

Shares of Snap stock traded up $0.09 during trading hours on Thursday, hitting $9.41. The company had a trading volume of 57,047,370 shares, compared to its average volume of 33,457,402. The company's 50-day moving average is $8.87 and its two-hundred day moving average is $9.22. Snap Inc. has a twelve month low of $7.08 and a twelve month high of $13.95. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.30 and a quick ratio of 4.30. The company has a market cap of $15.72 billion, a P/E ratio of -30.34 and a beta of 0.59.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. Analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Snap

In other Snap news, SVP Eric Young sold 117,592 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.59, for a total transaction of $1,010,115.28. Following the completion of the transaction, the senior vice president directly owned 3,348,290 shares in the company, valued at approximately $28,761,811.10. This trade represents a 3.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Michael J. O'sullivan sold 68,845 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.59, for a total transaction of $591,378.55. Following the transaction, the general counsel owned 2,173,950 shares of the company's stock, valued at $18,674,230.50. This trade represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 643,802 shares of company stock worth $5,584,121. 22.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNAP. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $12.00 target price on shares of Snap in a research note on Wednesday, April 30th. Susquehanna reduced their target price on shares of Snap from $13.00 to $8.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Loop Capital reduced their target price on shares of Snap from $16.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Guggenheim reissued a "neutral" rating on shares of Snap in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Snap from $8.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Two research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $33.95.

Snap Company 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.