MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Snap Inc. $SNAP

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Snap Inc. by 29.5% during the first quarter, acquiring an additional 359,145 shares to hold a total of 1,575,954 shares valued at approximately $13.73 million.
• Several other institutional investors also significantly altered their positions in Snap, with NBC Securities Inc. boosting its stake by a remarkable 154,650% in the same quarter.
• Snap's stock rose 3.4% to reach $7.29, with a market cap of $12.32 billion and ongoing concerns reflected in a negative earnings report, showing an EPS of -$0.16.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Snap Inc. (NYSE:SNAP - Free Report) by 29.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,575,954 shares of the company's stock after acquiring an additional 359,145 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.09% of Snap worth $13,730,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Invenomic Capital Management LP raised its position in shares of Snap by 180.2% in the first quarter. Invenomic Capital Management LP now owns 1,983,447 shares of the company's stock valued at $17,276,000 after purchasing an additional 1,275,630 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Snap by 38.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,777,523 shares of the company's stock valued at $41,612,000 after purchasing an additional 1,336,264 shares during the period. Banque Transatlantique SA purchased a new position in Snap during the first quarter valued at approximately $235,000. AQR Capital Management LLC grew its stake in Snap by 110.4% during the first quarter. AQR Capital Management LLC now owns 11,300,874 shares of the company's stock valued at $95,549,000 after acquiring an additional 5,930,766 shares in the last quarter. Finally, Perbak Capital Partners LLP purchased a new position in Snap during the first quarter valued at approximately $340,000. Institutional investors own 47.52% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on SNAP. Zacks Research cut shares of Snap from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Piper Sandler reduced their price objective on shares of Snap from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $7.00 price objective on shares of Snap in a research note on Wednesday, August 6th. Sanford C. Bernstein boosted their price objective on shares of Snap from $9.00 to $10.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Finally, Guggenheim reissued a "neutral" rating and issued a $8.00 price target on shares of Snap in a research note on Friday. Five research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Snap presently has an average rating of "Hold" and an average target price of $34.16.

Snap Trading Up 0.7%

NYSE:SNAP traded up $0.05 during midday trading on Friday, reaching $7.34. 87,471,875 shares of the stock traded hands, compared to its average volume of 65,744,152. The company has a fifty day moving average of $8.25 and a 200 day moving average of $8.47. Snap Inc. has a 12 month low of $6.90 and a 12 month high of $13.28. 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 stock has a market capitalization of $12.40 billion, a P/E ratio of -22.94 and a beta of 0.62.

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

Insider Buying and Selling at Snap

In related news, insider Ajit Mohan sold 184,287 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $7.18, for a total value of $1,323,180.66. Following the completion of the transaction, the insider directly owned 5,492,006 shares in the company, valued at $39,432,603.08. This trade represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Derek Andersen sold 60,966 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $7.17, for a total transaction of $437,126.22. Following the completion of the transaction, the chief financial officer owned 3,143,452 shares of the company's stock, valued at approximately $22,538,550.84. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,510,644 shares of company stock valued at $11,688,447 in the last quarter. 22.68% of the stock is owned by insiders.

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.