Entropy Technologies LP Invests $683,000 in Snap Inc. (NYSE:SNAP)

Key Points

• Entropy Technologies LP purchased 78,380 shares of Snap Inc., valued at approximately $683,000, during the first quarter of this year.
• Analysts have lowered their target prices for Snap Inc. shares, with Guggenheim, Susquehanna, and Goldman Sachs all issuing "neutral" ratings, significantly reducing their price targets.
• Insiders, including CFO Derek Andersen, have sold substantial shares recently, with a total of 1,459,277 shares sold over the past ninety days, valued at around $11.7 million.

Entropy Technologies LP bought a new stake in shares of Snap Inc. (NYSE:SNAP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 78,380 shares of the company's stock, valued at approximately $683,000.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors bought a new position in Snap during the 4th quarter valued at approximately $422,049,000. Capital World Investors raised its position in Snap by 38.9% during the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company's stock valued at $906,161,000 after purchasing an additional 23,569,522 shares during the last quarter. Vanguard Group Inc. raised its position in Snap by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company's stock valued at $953,601,000 after purchasing an additional 6,921,841 shares during the last quarter. Assenagon Asset Management S.A. raised its position 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 valued at $59,649,000 after purchasing an additional 3,761,629 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new position in Snap during the 4th quarter valued at approximately $20,729,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SNAP shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $12.00 price target on shares of Snap in a research report on Wednesday, April 30th. Morgan Stanley upped their price target on Snap from $6.50 to $8.50 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Loop Capital lowered 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. Canaccord Genuity Group lowered their price target on Snap from $10.00 to $9.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Finally, JMP Securities reissued a "market perform" rating on shares of Snap in a research report on Wednesday, August 6th. Two investment 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. According to MarketBeat, Snap presently has a consensus rating of "Hold" and a consensus price target of $34.16.

Insiders Place Their Bets

In other Snap 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 transaction of $265,089.40. Following the sale, the insider directly owned 5,676,293 shares in the company, valued at approximately $53,357,154.20. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. O'sullivan sold 24,000 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $9.57, for a total value of $229,680.00. Following the sale, the general counsel owned 486,984 shares in the company, valued at approximately $4,660,436.88. This represents a 4.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,202,570 shares of company stock valued at $9,525,096. 22.68% of the stock is currently owned by company insiders.

Snap Stock Up 1.0%

SNAP traded up $0.07 during trading on Friday, hitting $7.15. 46,745,551 shares of the company's stock traded hands, compared to its average volume of 52,566,500. The company's 50 day simple moving average is $8.78 and its two-hundred day simple moving average is $8.99. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 1.73. Snap Inc. has a 12-month low of $7.06 and a 12-month high of $13.28. The stock has a market capitalization of $11.95 billion, a price-to-earnings ratio of -22.34 and a beta of 0.62.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted ($0.15) EPS. The company's revenue was up 8.7% compared to the same quarter last year. Analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

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.