PDT Partners LLC Trims Stock Position in Snap Inc. $SNAP

Key Points

• PDT Partners LLC significantly reduced its holdings in Snap Inc. by 71.9%, ending up with 127,000 shares after selling 324,300 shares in the first quarter.
• Many institutional investors have made adjustments to their stakes in Snap, with notable increases from NBC Securities Inc. and Rakuten Securities Inc., resulting in 47.52% of the stock being owned by institutional investors.
• Snap's stock is currently facing analyst downgrades, with Citigroup reducing its rating to "negative" and multiple firms lowering their price targets, suggesting a consensus rating of "Hold."

PDT Partners LLC trimmed its stake in Snap Inc. (NYSE:SNAP - Free Report) by 71.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,000 shares of the company's stock after selling 324,300 shares during the period. PDT Partners LLC's holdings in Snap were worth $1,106,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SNAP. Vanguard Group Inc. boosted its holdings in Snap by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company's stock worth $953,601,000 after buying an additional 6,921,841 shares during the period. Deutsche Bank AG boosted its holdings in Snap by 5.5% in the 1st quarter. Deutsche Bank AG now owns 9,526,590 shares of the company's stock worth $82,977,000 after buying an additional 499,395 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Snap by 13.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company's stock worth $76,201,000 after buying an additional 828,285 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Snap by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,925,956 shares of the company's stock worth $60,325,000 after buying an additional 324,784 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Snap by 121.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 6,848,370 shares of the company's stock worth $59,649,000 after buying an additional 3,761,629 shares during the period. Institutional investors own 47.52% of the company's stock.

Insider Activity

In other news, CAO Rebecca Morrow sold 10,216 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $7.17, for a total transaction of $73,248.72. Following the sale, the chief accounting officer directly owned 436,087 shares in the company, valued at approximately $3,126,743.79. This represents a 2.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Derek Andersen sold 60,966 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $7.17, for a total transaction of $437,126.22. Following the sale, the chief financial officer owned 3,143,452 shares in the company, valued at $22,538,550.84. This represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,510,644 shares of company stock worth $11,688,447. 22.68% of the stock is owned by insiders.

Snap Price Performance

Shares of NYSE SNAP traded up $0.22 during mid-day trading on Friday, hitting $7.31. 102,038,263 shares of the company's stock traded hands, compared to its average volume of 54,320,768. The company's 50-day moving average is $8.45 and its two-hundred day moving average is $8.57. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88. The company has a market capitalization of $12.34 billion, a P/E ratio of -22.83 and a beta of 0.62. Snap Inc. has a 1 year low of $6.90 and a 1 year high of $13.28.

Snap (NYSE:SNAP - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). The firm had revenue of $1.34 billion for the quarter, compared to analysts' expectations 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 was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.15) EPS. Snap has set its Q3 2025 guidance at EPS. On average, equities analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SNAP shares. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $7.00 target price on shares of Snap in a report on Wednesday, August 6th. Morgan Stanley upped their target price on shares of Snap from $6.50 to $8.50 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Zacks Research cut shares of Snap from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Citizens Jmp reiterated a "market perform" rating on shares of Snap in a research note on Wednesday, August 6th. Finally, JMP Securities reiterated a "market perform" rating on shares of Snap in a research note on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $34.16.

Snap Profile

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.