Praxis Investment Management Inc. Cuts Stock Position in Snap Inc. $SNAP

Key Points

• Praxis Investment Management Inc. reduced its stake in Snap Inc. by 61.6% during the second quarter, now holding 25,580 shares valued at $222,000.
• Several institutional investors, including Vanguard Group Inc. and AQR Capital Management LLC, increased their holdings in Snap earlier this year, indicating continued interest in the stock.
• Snap's shares dropped 1.2% to $7.67, with analysts giving a mix of ratings and price targets ranging from $9.00 to $12.00.

Praxis Investment Management Inc. lessened its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 61.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 25,580 shares of the company's stock after selling 41,110 shares during the period. Praxis Investment Management Inc.'s holdings in Snap were worth $222,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Snap by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company's stock worth $953,601,000 after buying an additional 6,921,841 shares in the last quarter. AQR Capital Management LLC increased its stake in Snap by 110.4% in the 1st quarter. AQR Capital Management LLC now owns 11,300,874 shares of the company's stock worth $95,549,000 after buying an additional 5,930,766 shares in the last quarter. Deutsche Bank AG increased its stake in Snap by 5.5% in the 1st quarter. Deutsche Bank AG now owns 9,526,590 shares of the company's stock worth $82,977,000 after buying an additional 499,395 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Snap by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,925,956 shares of the company's stock worth $60,325,000 after buying an additional 324,784 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Snap by 38.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,777,523 shares of the company's stock worth $41,612,000 after buying an additional 1,336,264 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap Stock Down 1.2%

Shares of NYSE:SNAP opened at $7.67 on Monday. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 1.73. Snap Inc. has a 12 month low of $6.90 and a 12 month high of $13.28. The company has a 50-day moving average price of $7.65 and a 200 day moving average price of $8.27. The company has a market cap of $12.96 billion, a price-to-earnings ratio of -23.97 and a beta of 0.71.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) EPS 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 firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned ($0.15) EPS. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. Snap has set its Q3 2025 guidance at EPS. As a group, equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citizens Jmp reiterated a "market perform" rating on shares of Snap in a research note on Wednesday, August 6th. TD Cowen raised their price objective on Snap from $9.00 to $10.00 and gave the company a "hold" rating in a research report on Tuesday, July 15th. Sanford C. Bernstein raised their price objective on Snap from $9.00 to $10.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. UBS Group cut their price objective on Snap from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Finally, Evercore ISI raised their price objective on Snap from $11.00 to $12.00 and gave the company an "in-line" rating in a research report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Snap currently has a consensus rating of "Hold" and a consensus target price of $34.65.

Insider Buying and Selling at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $7.80, for a total value of $7,800,000.00. Following the completion of the transaction, the chief technology officer owned 53,215,224 shares of the company's stock, valued at approximately $415,078,747.20. This trade represents a 1.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ajit Mohan sold 184,287 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $7.18, for a total transaction of $1,323,180.66. Following the completion of the transaction, the insider directly owned 5,492,006 shares of the company's stock, valued at approximately $39,432,603.08. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,482,331 shares of company stock worth $11,364,779 in the last 90 days.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.