155,908 Shares in Snap Inc. (NYSE:SNAP) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 155,908 shares of the company's stock, valued at approximately $1,358,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC acquired a new position in shares of Snap during the 1st quarter valued at about $122,000. NBC Securities Inc. increased its holdings 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 acquiring an additional 3,093 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Snap by 2.4% during the 4th quarter. Ameriprise Financial Inc. now owns 157,118 shares of the company's stock valued at $1,692,000 after acquiring an additional 3,710 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Snap during the 4th quarter valued at about $158,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Snap by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company's stock valued at $184,000 after acquiring an additional 2,792 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on SNAP. JMP Securities set a $12.00 target price on Snap in a report on Friday, April 25th. Bank of America lowered their target price on Snap from $14.50 to $10.50 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Citizens Jmp raised Snap from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Morgan Stanley lowered their target price on Snap from $8.00 to $6.50 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, UBS Group lowered their target price on Snap from $14.00 to $9.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Snap presently has an average rating of "Hold" and an average target price of $35.74.

Insider Activity at Snap

In other news, General Counsel Michael J. O'sullivan sold 24,000 shares of the business's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $8.71, for a total transaction of $209,040.00. Following the completion of the sale, the general counsel owned 510,984 shares in the company, valued at $4,450,670.64. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ajit Mohan sold 27,608 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.04, for a total value of $221,968.32. Following the sale, the insider owned 2,526,855 shares of the company's stock, valued at approximately $20,315,914.20. The trade was a 1.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,639,601 shares of company stock valued at $13,534,791 over the last quarter.

Snap Price Performance

SNAP stock traded up $0.14 during trading on Monday, hitting $9.25. The company had a trading volume of 4,549,979 shares, compared to its average volume of 30,889,585. The company has a fifty day moving average price of $8.55 and a two-hundred day moving average price of $9.38. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.55. The company has a market cap of $15.47 billion, a P/E ratio of -29.95 and a beta of 0.59. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $16.52.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the firm posted $0.03 EPS. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. Equities research analysts expect that Snap Inc. will post -0.3 earnings per share 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.