Hussman Strategic Advisors Inc. purchased a new stake in shares of Snap Inc. (NYSE:SNAP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 147,000 shares of the company's stock, valued at approximately $1,280,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. boosted its holdings in shares of Snap by 5.7% in the first quarter. SBI Securities Co. Ltd. now owns 32,439 shares of the company's stock valued at $283,000 after purchasing an additional 1,755 shares during the period. Apollon Wealth Management LLC purchased a new position in shares of Snap during the 1st quarter valued at about $127,000. CWM LLC raised its stake in shares of Snap by 25.7% during the 1st quarter. CWM LLC now owns 184,370 shares of the company's stock valued at $1,606,000 after buying an additional 37,652 shares during the last quarter. Platform Technology Partners purchased a new position in shares of Snap in the 1st quarter valued at about $214,000. Finally, Arizona State Retirement System increased its stake in Snap by 0.8% during the 1st quarter. Arizona State Retirement System now owns 308,644 shares of the company's stock worth $2,688,000 after buying an additional 2,507 shares in the last quarter. 47.52% of the stock is owned by institutional investors.
Snap Price Performance
NYSE SNAP traded up $0.09 on Friday, reaching $10.00. 28,003,918 shares of the stock traded hands, compared to its average volume of 31,396,988. The firm's fifty day simple moving average is $8.69 and its 200 day simple moving average is $9.35. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.55. The company has a market cap of $16.71 billion, a price-to-earnings ratio of -32.26 and a beta of 0.59. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $15.35.
Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.12). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. The business's revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. As a group, research analysts predict that Snap Inc. will post -0.3 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Citigroup downgraded Snap from an "outperform" rating to a "negative" rating in a research report on Tuesday, July 15th. UBS Group reissued a "neutral" rating and set a $10.00 price objective (up from $9.00) on shares of Snap in a research report on Wednesday. Citizens Jmp upgraded Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. JMP Securities set a $12.00 price target on Snap in a research note on Friday, April 25th. Finally, Cantor Fitzgerald set a $7.00 price target on Snap and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Snap currently has an average rating of "Hold" and an average price target of $34.79.
Check Out Our Latest Report on Snap
Insider Buying and Selling
In other Snap news, SVP Eric Young sold 117,592 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $8.59, for a total transaction of $1,010,115.28. Following the transaction, the senior vice president directly owned 3,348,290 shares in the company, valued at $28,761,811.10. This trade represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Derek Andersen sold 33,886 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $8.04, for a total value of $272,443.44. Following the completion of the sale, the chief financial officer directly owned 3,204,418 shares in the company, valued at approximately $25,763,520.72. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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.
Snap Profile
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Free Report)
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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