AQR Capital Management LLC Acquires 5,930,766 Shares of Snap Inc. $SNAP

Key Points

• AQR Capital Management LLC increased its stake in Snap Inc. by 110.4% during the first quarter, acquiring an additional 5.93 million shares, bringing its total ownership to 11.3 million shares valued at approximately $95.5 million.
• Snap's quarterly revenue reached $1.34 billion, reflecting an 8.7% increase from the previous year, while the company reported earnings per share of ($0.16), matching analyst expectations.
• Insider sales included the CFO and General Counsel selling a total of 129,671 shares in mid-August, representing a notable decrease in their ownership percentages.

AQR Capital Management LLC grew its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 110.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,300,874 shares of the company's stock after purchasing an additional 5,930,766 shares during the quarter. AQR Capital Management LLC owned about 0.68% of Snap worth $95,549,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Snap news, insider Ajit Mohan sold 184,287 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $7.18, for a total value of $1,323,180.66. Following the completion of the sale, the insider owned 5,492,006 shares in the company, valued at approximately $39,432,603.08. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. O'sullivan sold 68,705 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $7.18, for a total transaction of $493,301.90. Following the completion of the transaction, the general counsel owned 2,015,624 shares in the company, valued at $14,472,180.32. This represents a 3.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,510,644 shares of company stock valued at $11,688,447 over the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNAP. TD Cowen raised their price target on Snap from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Tuesday, July 15th. Evercore ISI increased their price objective on Snap from $11.00 to $12.00 and gave the stock an "in-line" rating in a report on Wednesday, August 6th. Zacks Research lowered Snap from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Bank of America decreased their price target on Snap from $10.00 to $9.50 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Citizens Jmp reissued a "market perform" rating on shares of Snap in a report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $34.16.

Snap Price Performance

Shares of NYSE SNAP traded up $0.22 during midday trading on Friday, hitting $7.31. 102,038,263 shares of the company's stock were exchanged, compared to its average volume of 56,929,384. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 1.73. The business's fifty day moving average price is $8.45 and its two-hundred day moving average price is $8.56. The company has a market cap of $12.34 billion, a price-to-earnings ratio of -22.83 and a beta of 0.62. Snap Inc. has a 12-month low of $6.90 and a 12-month high of $13.28.

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