Cwm LLC Has $1.61 Million Position in Snap Inc. (NYSE:SNAP)

Cwm LLC increased its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 25.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,370 shares of the company's stock after acquiring an additional 37,652 shares during the period. Cwm LLC's holdings in Snap were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SNAP. Capital International Investors acquired a new stake in Snap in the fourth quarter valued at approximately $422,049,000. Capital World Investors increased its stake in shares of 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 during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of 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 during the last quarter. Norges Bank acquired a new position in shares of Snap during the 4th quarter worth $30,162,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Snap during the 4th quarter worth $27,713,000. Institutional investors and hedge funds own 47.52% of the company's stock.

Snap Trading Up 0.9%

SNAP opened at $10.00 on Friday. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $16.71 billion, a PE ratio of -32.26 and a beta of 0.59. Snap Inc. has a 1-year low of $7.08 and a 1-year high of $15.35. The firm has a 50-day moving average price of $8.69 and a two-hundred day moving average price of $9.35.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $0.03 EPS. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other Snap news, SVP Eric Young sold 117,592 shares of Snap stock in a transaction that occurred on 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 transaction, the senior vice president owned 3,348,290 shares of the company's stock, valued at approximately $28,761,811.10. The trade was a 3.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Derek Andersen sold 208,525 shares of Snap stock in a transaction that occurred on 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. The trade was a 5.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,667,802 shares of company stock valued at $13,799,881. 22.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SNAP. B. Riley dropped their price target on shares of Snap from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Piper Sandler dropped their price target on shares of Snap from $13.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley dropped their price target on shares of Snap from $8.00 to $6.50 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group lowered their target price 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. Finally, Citizens Jmp upgraded shares of Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Two analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Snap currently has a consensus rating of "Hold" and an average target price of $34.79.

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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