Dimensional Fund Advisors LP Decreases Position in Snap Inc. $SNAP

Dimensional Fund Advisors LP lessened its stake in Snap Inc. (NYSE:SNAP - Free Report) by 23.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,543,989 shares of the company's stock after selling 1,410,716 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.27% of Snap worth $20,867,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC increased its position in Snap by 40.0% in the first quarter. Parallel Advisors LLC now owns 48,798 shares of the company's stock worth $224,000 after buying an additional 13,951 shares during the last quarter. SEB Asset Management AB purchased a new position in shares of Snap during the 1st quarter valued at $310,000. Swiss National Bank lifted its position in shares of Snap by 7.1% during the 1st quarter. Swiss National Bank now owns 3,160,100 shares of the company's stock valued at $14,536,000 after buying an additional 209,900 shares during the last quarter. Spartan Wealth Advisory Services LLC bought a new position in shares of Snap during the 1st quarter worth $183,000. Finally, Aire Advisors LLC purchased a new stake in Snap in the 1st quarter worth about $53,000. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap News Summary

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Better-than-expected Q2 results support turnaround hopes. Snap reported adjusted EPS of $(0.10), ahead of the $(0.12) consensus estimate, while revenue of $1.60 billion exceeded forecasts and increased 18.9% year over year. The results have strengthened the case that advertising and user-growth improvements could support a recovery. Snap: Strong Q2 Earnings Bolster Hopes Of A Turnaround
• Positive Sentiment: Several analysts see upside. Cantor Fitzgerald issued a bullish forecast, Wells Fargo said the stock is expected to rise, and Citigroup raised its price target to $6.75. Heavy trading in Snap call options also indicates increased speculative interest following the earnings report. Cantor Fitzgerald Forecasts Strong Price Appreciation Wells Fargo Analyst Forecast Citigroup Raises Price Target
• Neutral Sentiment: Analyst views remain divided. Citizens JMP reiterated a Market Perform rating, suggesting the earnings improvement may already be reflected in the stock. A speculative article about a possible future acquisition of Snap offers no confirmed transaction or takeover discussions. Citizens JMP Reiterates Market Perform Who Might Buy Snap If Its Founders Ever Decide to Sell
• Negative Sentiment: Bearish ratings are limiting enthusiasm. Rosenblatt Securities issued a pessimistic forecast, while Zacks Research downgraded Snap to “Strong Sell.” Snap also remains unprofitable, with analysts expecting a loss for the full year, and its shares are near the 200-day moving average after retreating from the post-earnings surge. Rosenblatt Pessimistic Forecast Zacks Downgrade

Analysts Set New Price Targets

A number of brokerages recently issued reports on SNAP. HSBC cut Snap from a "hold" rating to a "hold" rating in a research note on Monday, April 27th. Zacks Research lowered shares of Snap from a "hold" rating to a "strong sell" rating in a research report on Monday. Wells Fargo & Company upped their price target on shares of Snap from $5.00 to $6.00 and gave the company an "equal weight" rating in a research note on Tuesday. UBS Group set a $6.00 price objective on shares of Snap in a report on Tuesday. Finally, Barclays lifted their price objective on shares of Snap from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twenty-four have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $7.65.

Snap Stock Performance

Snap stock opened at $5.21 on Friday. Snap Inc. has a 1-year low of $3.81 and a 1-year high of $9.28. The company has a current ratio of 2.94, a quick ratio of 3.53 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $8.81 billion, a PE ratio of -28.97 and a beta of 1.03. The firm's 50 day simple moving average is $4.93 and its 200 day simple moving average is $5.29.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Snap had a negative net margin of 4.90% and a negative return on equity of 14.61%. The business's quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) EPS. As a group, analysts expect that Snap Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Activity at Snap

In other Snap news, insider Ajit Mohan sold 6,923 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $5.58, for a total value of $38,630.34. Following the sale, the insider owned 5,050,968 shares of the company's stock, valued at $28,184,401.44. This trade represents a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Douglas Hott sold 114,702 shares of the firm's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $5.67, for a total value of $650,360.34. Following the completion of the sale, the chief financial officer directly owned 2,456,447 shares in the company, valued at approximately $13,928,054.49. The trade was a 4.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,868,059 shares of company stock valued at $15,855,631 in the last ninety days. 22.68% of the stock is currently owned by corporate insiders.

About Snap

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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