Graham Capital Management L.P. Boosts Stake in Snap Inc. $SNAP

Key Points

• Graham Capital Management L.P. increased its holdings in Snap Inc. by 60.7% during the first quarter, owning 218,840 shares valued at approximately $1.9 million.
• Multiple institutional investors, including Vanguard Group Inc. and Assenagon Asset Management S.A., also expanded their stakes in Snap, indicating a significant interest among hedge funds.
• Analyst ratings for Snap vary, with five analysts giving a Buy rating and twenty-three analysts assigning a Hold rating, reflecting cautious sentiment despite a revenue increase in the last quarter.

Graham Capital Management L.P. boosted its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 60.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 218,840 shares of the company's stock after buying an additional 82,693 shares during the period. Graham Capital Management L.P.'s holdings in Snap were worth $1,906,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SNAP. NBC Securities Inc. grew its position in Snap by 154,650.0% during the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock valued at $26,000 after purchasing an additional 3,093 shares during the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Snap in the 4th quarter worth $30,000. Rakuten Securities Inc. lifted its holdings in shares of Snap by 155.4% during the first quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock valued at $30,000 after purchasing an additional 2,123 shares in the last quarter. Quarry LP bought a new stake in Snap in the 1st quarter worth about $34,000. Finally, Itau Unibanco Holding S.A. bought a new position in Snap during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 47.52% of the company's stock.

Insider Activity

In other news, CFO Derek Andersen sold 60,966 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $7.17, for a total transaction of $437,126.22. Following the transaction, the chief financial officer owned 3,143,452 shares of the company's stock, valued at approximately $22,538,550.84. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $7.80, for a total transaction of $7,800,000.00. Following the transaction, the chief technology officer directly owned 53,215,224 shares in the company, valued at approximately $415,078,747.20. This trade represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,510,644 shares of company stock valued at $11,688,447. 22.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SNAP has been the topic of a number of research analyst reports. JMP Securities restated a "market perform" rating on shares of Snap in a research report on Wednesday, August 6th. Sanford C. Bernstein raised their price objective on shares of Snap from $9.00 to $10.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. UBS Group dropped their price target on shares of Snap from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Citigroup cut Snap from an "outperform" rating to a "negative" rating in a research report on Tuesday, July 15th. Finally, BMO Capital Markets lowered their price target on shares of Snap from $13.00 to $12.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $34.16.

Snap Trading Down 2.1%

NYSE SNAP traded down $0.16 during trading hours on Thursday, hitting $7.10. 69,805,673 shares of the company were exchanged, compared to its average volume of 54,964,072. Snap Inc. has a 52 week low of $6.90 and a 52 week high of $13.28. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.73. The stock has a 50-day moving average price of $8.48 and a 200 day moving average price of $8.61. The stock has a market cap of $11.99 billion, a PE ratio of -22.17 and a beta of 0.62.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.16). Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company earned ($0.15) earnings per share. Snap's revenue was up 8.7% on a year-over-year basis. Snap has set its Q3 2025 guidance at EPS. Analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

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.