Polar Asset Management Partners Inc. Invests $4.92 Million in Snap Inc. (NYSE:SNAP)

Polar Asset Management Partners Inc. bought a new position in Snap Inc. (NYSE:SNAP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 457,200 shares of the company's stock, valued at approximately $4,924,000.

A number of other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Snap by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock worth $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 shares of Snap in the 4th quarter worth about $289,000. Bank of New York Mellon Corp boosted its holdings in shares of Snap by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company's stock valued at $16,565,000 after buying an additional 29,526 shares during the period. Empowered Funds LLC boosted its holdings in shares of Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after buying an additional 1,055 shares during the period. Finally, Sei Investments Co. bought a new stake in shares of Snap during the 4th quarter valued at about $158,000. 47.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snap

In other news, CFO Derek Andersen sold 61,068 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $8.60, for a total transaction of $525,184.80. Following the sale, the chief financial officer now directly owns 3,238,304 shares of the company's stock, valued at $27,849,414.40. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Young sold 117,592 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.59, for a total value of $1,010,115.28. Following the completion of the transaction, the senior vice president now owns 3,348,290 shares of the company's stock, valued at $28,761,811.10. This trade represents a 3.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,586,313 shares of company stock valued at $22,190,490. Corporate insiders own 22.68% of the company's stock.

Snap Price Performance

Snap stock traded down $0.04 during midday trading on Thursday, hitting $8.30. The company's stock had a trading volume of 22,286,029 shares, compared to its average volume of 28,903,831. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $17.33. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $13.87 billion, a PE ratio of -19.76 and a beta of 0.61. The stock's 50-day moving average price is $8.40 and its 200-day moving average price is $10.05.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SNAP shares. The Goldman Sachs Group decreased their target price on Snap from $9.50 to $8.50 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets reduced their price objective on Snap from $16.00 to $13.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Cantor Fitzgerald set a $7.00 target price on Snap and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Loop Capital cut their target price on Snap from $16.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, B. Riley lowered their price target on shares of Snap from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $35.62.

Snap 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.