EULAV Asset Management Has $5.75 Million Stake in Snap Inc. (NYSE:SNAP)

EULAV Asset Management trimmed its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 10.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 660,000 shares of the company's stock after selling 75,000 shares during the quarter. EULAV Asset Management's holdings in Snap were worth $5,749,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Captrust Financial Advisors raised its position in shares of Snap by 8.0% during the 4th quarter. Captrust Financial Advisors now owns 13,918 shares of the company's stock worth $150,000 after buying an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Snap by 1.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company's stock worth $661,000 after buying an additional 1,033 shares in the last quarter. Trajan Wealth LLC raised its position in shares of Snap by 5.9% during the 4th quarter. Trajan Wealth LLC now owns 20,191 shares of the company's stock worth $217,000 after buying an additional 1,132 shares in the last quarter. AssuredPartners Investment Advisors LLC raised its position in shares of Snap by 6.3% during the 1st quarter. AssuredPartners Investment Advisors LLC now owns 22,128 shares of the company's stock worth $193,000 after buying an additional 1,306 shares in the last quarter. Finally, TRUE Private Wealth Advisors raised its position in shares of Snap by 2.9% during the 4th quarter. TRUE Private Wealth Advisors now owns 53,466 shares of the company's stock worth $576,000 after buying an additional 1,525 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap Stock Up 2.7%

Shares of Snap stock traded up $0.25 on Thursday, hitting $9.37. 39,372,621 shares of the company traded hands, compared to its average volume of 30,889,484. The company has a 50-day moving average price of $8.51 and a 200 day moving average price of $9.43. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.55. Snap Inc. has a 12-month low of $7.08 and a 12-month high of $17.33. The company has a market cap of $15.66 billion, a PE ratio of -30.22 and a beta of 0.59.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The company's revenue was up 14.1% on a year-over-year basis. Sell-side analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Ajit Mohan sold 27,608 shares of Snap stock in a transaction on Monday, June 16th. The shares were sold at an average price of $8.04, for a total value of $221,968.32. Following the completion of the sale, the insider owned 2,526,855 shares of the company's stock, valued at approximately $20,315,914.20. The trade was a 1.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. O'sullivan sold 24,000 shares of Snap stock in a transaction on Monday, June 30th. The shares were sold at an average price of $8.71, for a total transaction of $209,040.00. Following the completion of the sale, the general counsel directly owned 510,984 shares of the company's stock, valued at approximately $4,450,670.64. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,639,601 shares of company stock worth $13,534,791 in the last 90 days. 22.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on SNAP. Canaccord Genuity Group dropped their price target on shares of Snap from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. B. Riley cut their target price on shares of Snap from $12.00 to $10.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. UBS Group decreased their price target on shares of Snap from $14.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Citigroup decreased their price target on shares of Snap from $9.00 to $8.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, Piper Sandler decreased their price target on shares of Snap from $13.00 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Snap currently has an average rating of "Hold" and an average price target of $35.74.

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.