Gotham Asset Management LLC Invests $339,000 in Snap Inc. (NYSE:SNAP)

Gotham Asset Management LLC purchased a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 31,442 shares of the company's stock, valued at approximately $339,000.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Snap by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock valued at $71,095,000 after purchasing an additional 389,812 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Snap during the fourth quarter valued at about $289,000. Bank of New York Mellon Corp lifted its position in shares of Snap by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company's stock worth $16,565,000 after buying an additional 29,526 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Snap by 3.1% during the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock worth $384,000 after acquiring an additional 1,055 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Snap during the 4th quarter worth about $158,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Price Performance

Shares of Snap stock traded down $0.21 during midday trading on Monday, hitting $8.23. 18,158,645 shares of the company were exchanged, compared to its average volume of 28,923,928. The firm has a 50 day simple moving average of $8.43 and a 200-day simple moving average of $10.08. Snap Inc. has a 52 week low of $7.08 and a 52 week high of $17.33. The firm has a market cap of $13.75 billion, a P/E ratio of -19.58 and a beta of 0.61. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95.

Snap (NYSE:SNAP - Get Free Report) last issued its 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 net margin of 13.02% and a negative return on equity of 25.67%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm posted $0.03 EPS. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on SNAP shares. Susquehanna cut their price objective on Snap from $13.00 to $8.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Canaccord Genuity Group dropped their price target on shares of Snap from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Royal Bank of Canada restated a "sector perform" rating and issued a $12.00 price objective on shares of Snap in a research note on Wednesday, April 30th. Piper Sandler lowered their target price 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. Finally, B. Riley dropped their target price on shares of Snap from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $35.62.

Insider Activity at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the sale, the chief technology officer now owns 55,818,548 shares in the company, valued at approximately $504,599,673.92. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Derek Andersen sold 22,720 shares of Snap stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.58, for a total value of $194,937.60. Following the completion of the transaction, the chief financial officer now directly owns 3,541,515 shares of the company's stock, valued at $30,386,198.70. This represents a 0.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,586,313 shares of company stock valued at $22,190,490 in the last ninety days. Insiders own 22.68% of the company's stock.

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.