TB Alternative Assets Ltd. Sells 3,190,863 Shares of Snap Inc. (NYSE:SNAP)

TB Alternative Assets Ltd. lowered its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 75.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,023,649 shares of the company's stock after selling 3,190,863 shares during the period. Snap makes up 2.1% of TB Alternative Assets Ltd.'s holdings, making the stock its 13th largest position. TB Alternative Assets Ltd. owned approximately 0.06% of Snap worth $8,916,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC acquired a new stake in Snap in the first quarter worth about $184,000. Prospect Financial Services LLC bought a new stake in shares of Snap during the 1st quarter worth about $100,000. Intellectus Partners LLC acquired a new stake in shares of Snap in the 1st quarter worth approximately $103,000. NBC Securities Inc. boosted its holdings 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 valued at $26,000 after acquiring an additional 3,093 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Snap by 10.2% during the first quarter. Rhumbline Advisers now owns 192,210 shares of the company's stock valued at $1,674,000 after acquiring an additional 17,868 shares during the period. Institutional investors and hedge funds own 47.52% of the company's stock.

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 9,202 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $8.59, for a total value of $79,045.18. Following the sale, the chief accounting officer now owns 448,881 shares of the company's stock, valued at $3,855,887.79. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total value of $9,040,000.00. Following the transaction, the chief technology officer now owns 55,818,548 shares of the company's stock, valued at approximately $504,599,673.92. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,634,313 shares of company stock worth $22,581,690 over the last three months. Corporate insiders own 22.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SNAP shares. Loop Capital decreased their price target on Snap from $16.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 16th. JPMorgan Chase & Co. lowered their target price on Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Rosenblatt Securities cut their price target on shares of Snap from $12.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Guggenheim restated a "neutral" rating on shares of Snap in a research report on Wednesday, April 2nd. Finally, Bank of America dropped their target price on shares of Snap from $14.50 to $10.50 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Snap has an average rating of "Hold" and a consensus price target of $35.62.

Snap Stock Up 3.0%

Shares of Snap stock traded up $0.25 during trading on Monday, hitting $8.52. 34,144,474 shares of the stock traded hands, compared to its average volume of 29,214,835. The stock has a market cap of $14.24 billion, a P/E ratio of -20.29 and a beta of 0.59. The company has a fifty day moving average price of $8.27 and a two-hundred day moving average price of $9.92. Snap Inc. has a twelve month low of $7.08 and a twelve month high of $17.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95.

Snap (NYSE:SNAP - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The business's revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 earnings per share. Equities research analysts predict that Snap Inc. will post -0.3 EPS for the current fiscal year.

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.