Connor Clark & Lunn Investment Management Ltd. Has $26.88 Million Stock Position in Snap Inc. (NYSE:SNAP)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has decreased its stake in Snap Inc. by 1.5%, now holding 3,086,505 shares valued at approximately $26.88 million.
• Insiders, including Ajit Mohan and Eric Young, have sold significant amounts of Snap stock recently, contributing to a total sale of 667,802 shares over the past ninety days.
• Snap's shares are currently trading at $7.43, with a market capitalization of $12.42 billion, and the company recently reported an earnings per share of ($0.16), matching analysts' expectations.

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,086,505 shares of the company's stock after selling 46,025 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.18% of Snap worth $26,883,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital International Investors bought a new stake in Snap during the 4th quarter worth approximately $422,049,000. Capital World Investors increased its holdings in Snap by 38.9% during the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company's stock worth $906,161,000 after purchasing an additional 23,569,522 shares in the last quarter. Vanguard Group Inc. increased its holdings in Snap by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company's stock worth $953,601,000 after purchasing an additional 6,921,841 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Snap by 121.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 6,848,370 shares of the company's stock worth $59,649,000 after purchasing an additional 3,761,629 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Snap during the 4th quarter worth approximately $27,713,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Ajit Mohan sold 28,201 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $9.40, for a total value of $265,089.40. Following the sale, the insider owned 5,676,293 shares in the company, valued at approximately $53,357,154.20. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $1,010,115.28. Following the sale, the senior vice president owned 3,348,290 shares in the company, valued at $28,761,811.10. The trade was a 3.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 667,802 shares of company stock worth $5,813,801. 22.68% of the stock is currently owned by corporate insiders.

Snap Trading Down 1.5%

Shares of SNAP stock opened at $7.43 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.30 and a current ratio of 3.88. Snap Inc. has a 52-week low of $7.08 and a 52-week high of $13.28. The company has a market capitalization of $12.42 billion, a PE ratio of -23.22 and a beta of 0.62. The business's fifty day moving average is $8.89 and its 200 day moving average is $9.10.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business posted ($0.15) earnings per share. The firm's revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SNAP shares. Citizens Jmp reissued a "market perform" rating on shares of Snap in a report on Wednesday. Rosenblatt Securities decreased their price objective on Snap from $9.00 to $8.70 and set a "neutral" rating for the company in a report on Wednesday. Bank of America decreased their price target on Snap from $10.00 to $9.50 and set a "neutral" rating for the company in a research report on Wednesday. Susquehanna decreased their price target on Snap from $13.00 to $8.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Finally, Loop Capital decreased their price target on Snap from $16.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Snap presently has a consensus rating of "Hold" and a consensus target price of $34.16.

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.

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