Riposte Capital LLC Makes New Investment in Snap Inc. $SNAP

Key Points

• Riposte Capital LLC acquired 1.2 million Snap shares worth approximately $5.52 million, making SNAP about 1.4% of its portfolio and giving it roughly 0.07% ownership of the company.
• Snap reported quarterly revenue of $1.53 billion, up 12.2% year over year, but missed earnings expectations with a loss of $0.05 per share versus the $0.09 consensus estimate. Shares were trading at $4.76, while analysts’ consensus rating remained “Hold” with a $7.23 price target.
• Snap insiders sold about 2.87 million shares worth $15.86 million over the past 90 days, including a 2 million-share sale by CTO Robert C. Murphy.

Riposte Capital LLC bought a new stake in Snap Inc. (NYSE:SNAP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,200,000 shares of the company's stock, valued at approximately $5,520,000. Snap makes up approximately 1.4% of Riposte Capital LLC's portfolio, making the stock its 18th largest position. Riposte Capital LLC owned about 0.07% of Snap at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Mackenzie Financial Corp grew its holdings in Snap by 5.1% during the third quarter. Mackenzie Financial Corp now owns 27,638 shares of the company's stock valued at $213,000 after purchasing an additional 1,349 shares during the period. WealthCollab LLC grew its position in shares of Snap by 1.2% during the 4th quarter. WealthCollab LLC now owns 115,390 shares of the company's stock valued at $931,000 after purchasing an additional 1,369 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Snap by 0.3% in the 3rd quarter. Alliancebernstein L.P. now owns 414,416 shares of the company's stock valued at $3,195,000 after acquiring an additional 1,396 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in 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 purchasing an additional 1,451 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. increased its stake in Snap by 37.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 5,500 shares of the company's stock valued at $44,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 47.52% of the company's stock.

Snap Trading Up 5.4%

Shares of SNAP stock opened at $4.76 on Wednesday. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of -19.85 and a beta of 1.05. Snap Inc. has a 12-month low of $3.81 and a 12-month high of $9.77. The stock's 50-day moving average price is $5.03 and its 200-day moving average price is $5.44.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.53 billion. Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The business's quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) EPS. Equities research analysts predict that Snap Inc. will post -0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Robert C. Murphy sold 2,000,000 shares of the business's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $5.44, for a total value of $10,880,000.00. Following the sale, the chief technology officer directly owned 47,012,324 shares in the company, valued at $255,747,042.56. The trade was a 4.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Rebecca Morrow sold 16,729 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.60, for a total transaction of $93,682.40. Following the completion of the transaction, the chief accounting officer directly owned 512,811 shares of the company's stock, valued at approximately $2,871,741.60. The trade was a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 2,868,059 shares of company stock worth $15,855,631.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler reaffirmed a "neutral" rating on shares of Snap in a report on Wednesday, June 17th. Guggenheim reissued a "neutral" rating and set a $6.50 price target on shares of Snap in a research report on Thursday, April 16th. Rothschild & Co Redburn upgraded shares of Snap from a "neutral" rating to a "buy" rating and set a $10.00 price objective on the stock in a research report on Monday, April 27th. The Goldman Sachs Group cut their target price on Snap from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 8th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and issued a $5.00 price objective on shares of Snap in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twenty-five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Snap presently has a consensus rating of "Hold" and a consensus price target of $7.23.

Snap Company Profile

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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