EULAV Asset Management Sells 75,000 Shares of Snap Inc. (NYSE:SNAP)

EULAV Asset Management lessened its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 10.2% in the first quarter, according to its most recent filing with the Securities & 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 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Captrust Financial Advisors grew its holdings in Snap by 8.0% during the 4th quarter. Captrust Financial Advisors now owns 13,918 shares of the company's stock valued at $150,000 after buying an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Snap by 1.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company's stock valued at $661,000 after purchasing an additional 1,033 shares during the period. Trajan Wealth LLC boosted its stake in shares of Snap by 5.9% during the fourth quarter. Trajan Wealth LLC now owns 20,191 shares of the company's stock valued at $217,000 after purchasing an additional 1,132 shares during the period. AssuredPartners Investment Advisors LLC boosted its stake in shares of Snap by 6.3% during the first quarter. AssuredPartners Investment Advisors LLC now owns 22,128 shares of the company's stock valued at $193,000 after purchasing an additional 1,306 shares during the period. Finally, TRUE Private Wealth Advisors boosted its stake in shares of Snap by 2.9% during the fourth quarter. TRUE Private Wealth Advisors now owns 53,466 shares of the company's stock valued at $576,000 after purchasing an additional 1,525 shares during the period. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap Stock Performance

Shares of NYSE:SNAP traded down $0.07 during midday trading on Monday, reaching $9.20. 23,736,133 shares of the company's stock traded hands, compared to its average volume of 30,681,669. The company has a market cap of $15.37 billion, a price-to-earnings ratio of -29.68 and a beta of 0.59. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.30 and a current ratio of 4.30. Snap Inc. has a one year low of $7.08 and a one year high of $17.33. The stock has a 50 day moving average of $8.47 and a 200 day moving average of $9.45.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. As a group, equities research analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Michael J. O'sullivan sold 68,845 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.59, for a total transaction of $591,378.55. Following the completion of the sale, the general counsel owned 2,173,950 shares of the company's stock, valued at $18,674,230.50. This represents a 3.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $8.03, for a total value of $8,030,000.00. Following the completion of the sale, the chief technology officer owned 54,517,308 shares of the company's stock, valued at approximately $437,773,983.24. The trade was a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,639,601 shares of company stock valued at $13,534,791 in the last 90 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SNAP. Canaccord Genuity Group decreased their target price on Snap from $10.00 to $9.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their target price on Snap from $10.00 to $8.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. B. Riley reduced their price target on Snap from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Piper Sandler reduced their price target on Snap from $13.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Stifel Nicolaus reduced their price target on Snap from $11.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently 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.