Quantinno Capital Management LP Has $2.11 Million Stake in Snap Inc. $SNAP

Key Points

• Quantinno Capital Management reduced its Snap stake by 30.7% in the first quarter, selling 203,251 shares and retaining 458,748 shares valued at approximately $2.11 million. Institutional investors collectively own 47.52% of Snap.
• Snap reported a quarterly loss of $0.10 per share, beating estimates by $0.02, while revenue rose 18.9% year over year to $1.60 billion. Shares opened at $5.36, within a 52-week range of $3.81 to $9.28.
• Insiders sold nearly 4.87 million shares worth about $27.0 million over the past 90 days. Analysts maintain a consensus “Hold” rating with an average price target of $7.65, despite several recent upgrades.

Quantinno Capital Management LP reduced its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 30.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 458,748 shares of the company's stock after selling 203,251 shares during the quarter. Quantinno Capital Management LP's holdings in Snap were worth $2,110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mackenzie Financial Corp lifted its holdings in Snap by 5.1% during the 3rd quarter. Mackenzie Financial Corp now owns 27,638 shares of the company's stock worth $213,000 after buying an additional 1,349 shares in the last quarter. WealthCollab LLC raised its position in shares of Snap by 1.2% during the fourth quarter. WealthCollab LLC now owns 115,390 shares of the company's stock worth $931,000 after acquiring an additional 1,369 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Snap by 0.3% during the third quarter. Alliancebernstein L.P. now owns 414,416 shares of the company's stock worth $3,195,000 after acquiring an additional 1,396 shares during the last quarter. Orion Porfolio Solutions LLC lifted its stake in shares of Snap by 8.3% during the second quarter. Orion Porfolio Solutions LLC now owns 18,913 shares of the company's stock valued at $164,000 after acquiring an additional 1,451 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company's stock valued at $25,000 after acquiring an additional 1,581 shares during the period. Institutional investors and hedge funds own 47.52% of the company's stock.

Snap Stock Performance

Shares of NYSE:SNAP opened at $5.36 on Tuesday. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of -29.78 and a beta of 1.03. The firm's 50 day simple moving average is $4.91 and its 200 day simple moving average is $5.27. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.94 and a quick ratio of 2.94. Snap Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $9.28.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. Snap had a negative net margin of 4.90% and a negative return on equity of 14.61%. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter in the previous year, the company earned ($0.16) earnings per share. The business's revenue for the quarter was up 18.9% on a year-over-year basis. As a group, sell-side analysts forecast that Snap Inc. will post -0.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 2,000,000 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $5.55, for a total value of $11,100,000.00. Following the completion of the sale, the chief technology officer owned 41,809,791 shares in the company, valued at $232,044,340.05. This represents a 4.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca Morrow sold 16,729 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.60, for a total value of $93,682.40. Following the sale, the chief accounting officer directly owned 512,811 shares in the company, valued at $2,871,741.60. The trade was a 3.16% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 4,868,059 shares of company stock worth $26,955,631 over the last ninety days.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank Of Canada lowered their price objective on Snap from $10.00 to $8.00 and set a "sector perform" rating for the company in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Snap from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays raised their target price on shares of Snap from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Rothschild & Co Redburn raised shares of Snap from a "neutral" rating to a "buy" rating and set a $10.00 price target for the company in a research note on Monday, April 27th. Finally, Freedom Capital upgraded shares of Snap from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, twenty-three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.65.

About Snap

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.

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