Bryce Point Capital LLC Has $102,000 Stock Holdings in Snap Inc. (NYSE:SNAP)

Key Points

• Bryce Point Capital LLC reduced its stake in Snap Inc. by 80.3% in the first quarter, leaving it with 10,562 shares valued at approximately $102,000.
• Several other hedge funds have adjusted their positions, with NBC Securities increasing its stake by an impressive 154,650%, highlighting significant shifts in institutional interest in Snap.
• Analysts have revised Snap's target price downwards, with Susquehanna reducing it from $13.00 to $8.00, contributing to a general consensus rating of "Hold" for the stock.

Bryce Point Capital LLC lowered its position in Snap Inc. (NYSE:SNAP - Free Report) by 80.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,562 shares of the company's stock after selling 42,982 shares during the period. Bryce Point Capital LLC's holdings in Snap were worth $102,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SNAP. Captrust Financial Advisors grew its stake in Snap by 8.0% in the fourth quarter. Captrust Financial Advisors now owns 13,918 shares of the company's stock valued at $150,000 after acquiring an additional 1,030 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Snap by 1.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company's stock valued at $661,000 after purchasing an additional 1,033 shares in the last quarter. Trajan Wealth LLC grew its position in shares of Snap by 5.9% in the 4th quarter. Trajan Wealth LLC now owns 20,191 shares of the company's stock valued at $217,000 after purchasing an additional 1,132 shares during the period. AssuredPartners Investment Advisors LLC grew its position in shares of Snap by 6.3% in the 1st quarter. AssuredPartners Investment Advisors LLC now owns 22,128 shares of the company's stock valued at $193,000 after purchasing an additional 1,306 shares during the period. Finally, DMC Group LLC increased its stake in Snap by 7.2% during the 1st quarter. DMC Group LLC now owns 19,547 shares of the company's stock worth $170,000 after purchasing an additional 1,313 shares in the last quarter. Institutional investors own 47.52% of the company's stock.

Insider Activity

In related news, General Counsel Michael J. O'sullivan sold 68,845 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.59, for a total value of $591,378.55. Following the transaction, the general counsel owned 2,173,950 shares in the company, valued at approximately $18,674,230.50. This represents a 3.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Derek Andersen sold 208,525 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $9.03, for a total transaction of $1,882,980.75. Following the completion of the transaction, the chief financial officer directly owned 3,299,372 shares in the company, valued at approximately $29,793,329.16. This represents a 5.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,667,802 shares of company stock valued at $13,799,881.

Snap Stock Performance

NYSE SNAP traded down $0.07 during trading on Monday, reaching $9.70. 51,258,444 shares of the company's stock were exchanged, compared to its average volume of 35,138,560. 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 business has a 50 day moving average price of $8.80 and a 200-day moving average price of $9.26. The stock has a market capitalization of $16.21 billion, a P/E ratio of -31.29 and a beta of 0.59. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $13.95.

Snap (NYSE:SNAP - Get Free Report) last posted its 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). Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the firm posted $0.03 earnings per share. The firm's revenue was up 14.1% compared to the same quarter last year. Sell-side analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SNAP has been the topic of a number of research reports. The Goldman Sachs Group cut their price target on shares of Snap from $9.50 to $8.50 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Cantor Fitzgerald set a $7.00 price objective on shares of Snap and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Susquehanna reduced their target price on shares of Snap from $13.00 to $8.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Citigroup downgraded Snap from an "outperform" rating to a "negative" rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. cut their price target on Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $33.95.

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.