Perpetual Ltd Reduces Holdings in Snap Inc. $SNAP

Key Points

• Perpetual Ltd reduced its stake in Snap Inc. by 49.1% in the second quarter, selling 34,508 shares and retaining 35,733 shares valued at approximately $311,000.
• Insider Ajit Mohan sold 27,595 shares at an average price of $7.56, decreasing his ownership by 0.50%, while insider activity has seen a total of 1,510,532 shares sold worth about $11.65 million in the last 90 days.
• Snap's stock has faced fluctuating analyst ratings, with four indicating a Buy rating, twenty-two maintaining a Hold rating, and two issuing a Sell rating, as it currently has a consensus price target of $35.84.

Perpetual Ltd trimmed its stake in Snap Inc. (NYSE:SNAP - Free Report) by 49.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 35,733 shares of the company's stock after selling 34,508 shares during the period. Perpetual Ltd's holdings in Snap were worth $311,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SNAP. NBC Securities Inc. grew its stake in shares of Snap by 154,650.0% in the first quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after acquiring an additional 3,093 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in Snap by 155.4% in 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 during the period. Quarry LP acquired a new position in Snap during the 1st quarter worth $34,000. Itau Unibanco Holding S.A. purchased a new stake in Snap during the 1st quarter worth about $35,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in Snap in the 1st quarter valued at about $44,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snap

In related news, CAO Rebecca Morrow sold 10,216 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $7.17, for a total value of $73,248.72. Following the completion of the sale, the chief accounting officer owned 436,087 shares in the company, valued at $3,126,743.79. This trade represents a 2.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Derek Andersen sold 33,871 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $7.56, for a total transaction of $256,064.76. Following the completion of the transaction, the chief financial officer directly owned 3,109,581 shares of the company's stock, valued at approximately $23,508,432.36. This trade represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,510,532 shares of company stock valued at $11,650,269 over the last 90 days.

Snap Stock Performance

NYSE:SNAP traded up $0.38 during mid-day trading on Monday, reaching $8.54. The stock had a trading volume of 219,197,906 shares, compared to its average volume of 97,965,448. The company has a debt-to-equity ratio of 1.73, a quick ratio of 3.88 and a current ratio of 3.88. The firm has a market capitalization of $14.42 billion, a price-to-earnings ratio of -26.67 and a beta of 0.62. Snap Inc. has a twelve month low of $6.90 and a twelve month high of $13.28. The business has a 50 day simple moving average of $8.11 and a 200 day simple moving average of $8.38.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SNAP shares. Piper Sandler dropped their price objective on shares of Snap from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Citizens Jmp reiterated a "market perform" rating on shares of Snap in a research note on Wednesday, August 6th. Guggenheim restated a "neutral" rating and issued a $8.00 price target on shares of Snap in a research note on Friday, September 12th. Truist Financial decreased their price target on Snap from $11.00 to $10.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. Finally, Rosenblatt Securities lowered their price objective on Snap from $9.00 to $8.70 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $35.84.

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.