Invenomic Capital Management LP Boosts Stock Holdings in Snap Inc. $SNAP

Key Points

• Invenomic Capital Management LP increased its stake in Snap Inc. by 180.2%, holding nearly 2 million shares worth approximately $17.3 million as of the latest SEC filing.
• Insider trading activity saw significant sales, with a director selling 7,900 shares and the general counsel selling 24,000 shares, indicating a decrease in their positions.
• Analysts have mixed outlooks on Snap, with five Buy ratings and twenty-three Hold ratings, while the average price target currently sits at $34.16.

Invenomic Capital Management LP boosted its stake in Snap Inc. (NYSE:SNAP - Free Report) by 180.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,983,447 shares of the company's stock after purchasing an additional 1,275,630 shares during the quarter. Invenomic Capital Management LP owned about 0.12% of Snap worth $17,276,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. NBC Securities Inc. grew its holdings in Snap by 154,650.0% in the first quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after purchasing an additional 3,093 shares during the period. Raiffeisen Bank International AG acquired a new stake in Snap in the fourth quarter worth $30,000. Rakuten Securities Inc. grew its holdings in Snap by 155.4% in the first quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock worth $30,000 after purchasing an additional 2,123 shares during the period. Quarry LP acquired a new stake in Snap in the first quarter worth $34,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Snap in the first quarter worth $35,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Citizens Jmp restated a "market perform" rating on shares of Snap in a report on Wednesday, August 6th. Bank of America dropped their price objective on shares of Snap from $10.00 to $9.50 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. JMP Securities reaffirmed a "market perform" rating on shares of Snap in a research note on Wednesday, August 6th. TD Cowen raised their price objective on shares of Snap from $9.00 to $10.00 and gave the company a "hold" rating in a research note on Tuesday, July 15th. Finally, BMO Capital Markets dropped their price objective on shares of Snap from $13.00 to $12.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $34.16.

Snap Stock Up 3.0%

Shares of SNAP traded up $0.22 during trading hours on Friday, reaching $7.31. 102,038,263 shares of the stock traded hands, compared to its average volume of 56,929,384. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 1.73. The stock has a fifty day simple moving average of $8.45 and a 200 day simple moving average of $8.56. Snap Inc. has a 52 week low of $6.90 and a 52 week high of $13.28. The company has a market cap of $12.34 billion, a price-to-earnings ratio of -22.83 and a beta of 0.62.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.16). Snap had a negative net margin of 9.69% and a negative return on equity of 23.32%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm earned ($0.15) earnings per share. The firm's revenue was up 8.7% on a year-over-year basis. Snap has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that Snap Inc. will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other Snap news, Director Elizabeth Jenkins sold 7,900 shares of Snap stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $7.07, for a total value of $55,853.00. Following the sale, the director owned 65,663 shares of the company's stock, valued at approximately $464,237.41. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ajit Mohan sold 184,287 shares of Snap stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $7.18, for a total transaction of $1,323,180.66. Following the completion of the sale, the insider directly owned 5,492,006 shares in the company, valued at approximately $39,432,603.08. This represents a 3.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,510,644 shares of company stock valued at $11,688,447.

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.