Magnetar Financial LLC Has $346,000 Stock Position in Snap Inc. $SNAP

Key Points

• Magnetar Financial LLC reduced its stake in Snap Inc. by 66.9%, now holding 39,758 shares valued at $346,000.
• Snap's recent earnings report showed a quarterly revenue of $1.34 billion, matching analysts' estimates, with a loss of ($0.16) earnings per share.
• Insiders at Snap sold a total of 1,510,644 shares worth approximately $11.7 million in the last 90 days.

Magnetar Financial LLC lowered its stake in Snap Inc. (NYSE:SNAP - Free Report) by 66.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,758 shares of the company's stock after selling 80,496 shares during the quarter. Magnetar Financial LLC's holdings in Snap were worth $346,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SNAP. State of Wyoming lifted its stake in Snap by 486.3% in the first quarter. State of Wyoming now owns 33,343 shares of the company's stock valued at $290,000 after buying an additional 27,656 shares during the period. Trexquant Investment LP boosted its stake in Snap by 67.0% during the 1st quarter. Trexquant Investment LP now owns 1,944,231 shares of the company's stock worth $16,934,000 after acquiring an additional 779,945 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Snap during the first quarter valued at approximately $35,000. Landscape Capital Management L.L.C. grew its holdings in Snap by 4.2% during the first quarter. Landscape Capital Management L.L.C. now owns 181,838 shares of the company's stock valued at $1,584,000 after purchasing an additional 7,343 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ increased its stake in Snap by 1.7% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 362,533 shares of the company's stock valued at $3,158,000 after purchasing an additional 6,208 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNAP has been the subject of a number of research analyst reports. TD Cowen boosted their target price on Snap from $9.00 to $10.00 and gave the company a "hold" rating in a research note on Tuesday, July 15th. Bank of America lowered their target price on Snap from $10.00 to $9.50 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. BMO Capital Markets dropped their target price on shares of Snap from $13.00 to $12.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Sanford C. Bernstein upped their price target on shares of Snap from $9.00 to $10.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Finally, Rosenblatt Securities lowered their price objective on shares of Snap from $9.00 to $8.70 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Snap currently has a consensus rating of "Hold" and a consensus target price of $34.16.

Insiders Place Their Bets

In other Snap news, Director Elizabeth Jenkins sold 7,900 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $55,853.00. Following the transaction, the director owned 65,663 shares of the company's stock, valued at $464,237.41. The trade was a 10.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ajit Mohan sold 184,287 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $7.18, for a total value of $1,323,180.66. Following the sale, the insider 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. Insiders have sold 1,510,644 shares of company stock valued at $11,688,447 in the last quarter. 22.68% of the stock is currently owned by corporate insiders.

Snap Stock Down 2.1%

SNAP traded down $0.16 during trading hours on Thursday, hitting $7.10. 69,805,673 shares of the company's stock were exchanged, compared to its average volume of 54,964,072. Snap Inc. has a 1-year low of $6.90 and a 1-year high of $13.28. The stock's 50-day moving average is $8.48 and its two-hundred day moving average is $8.61. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of -22.17 and a beta of 0.62. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.73.

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

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.