Think Investments LP Has $41.57 Million Stake in Snap Inc. (NYSE:SNAP)

Think Investments LP trimmed its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,859,900 shares of the company's stock after selling 630,600 shares during the quarter. Snap accounts for 9.1% of Think Investments LP's portfolio, making the stock its 3rd largest holding. Think Investments LP owned approximately 0.23% of Snap worth $41,571,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors lifted its position in shares of Snap by 38.9% during the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company's stock worth $906,161,000 after buying an additional 23,569,522 shares during the period. SRS Investment Management LLC raised its stake in Snap by 1.4% during the fourth quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company's stock worth $793,998,000 after acquiring an additional 1,001,632 shares in the last quarter. Capital International Investors bought a new position in shares of Snap during the fourth quarter valued at $422,049,000. Geode Capital Management LLC boosted its stake in shares of Snap by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company's stock valued at $127,078,000 after purchasing an additional 134,017 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Snap by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock worth $71,095,000 after purchasing an additional 389,812 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on SNAP shares. Piper Sandler cut their price objective on Snap from $13.00 to $10.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. The Goldman Sachs Group cut their price target on Snap from $9.50 to $8.50 and set a "neutral" rating for the company in a report on Wednesday, April 30th. JMP Securities set a $12.00 price target on shares of Snap in a research report on Friday, April 25th. Wells Fargo & Company lowered their price objective on shares of Snap from $9.00 to $8.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Snap from $10.00 to $8.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $35.62.

Snap Trading Down 1.6%

NYSE SNAP traded down $0.14 during trading on Friday, reaching $8.30. 8,288,187 shares of the stock traded hands, compared to its average volume of 28,762,445. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $17.33. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm has a market cap of $13.86 billion, a price-to-earnings ratio of -19.77 and a beta of 0.61. The stock's 50-day moving average price is $8.46 and its 200 day moving average price is $10.16.

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

Insiders Place Their Bets

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the sale, the chief technology officer now directly owns 55,818,548 shares in the company, valued at approximately $504,599,673.92. This trade represents a 1.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Rebecca Morrow sold 9,202 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $8.59, for a total transaction of $79,045.18. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,586,313 shares of company stock worth $22,190,490. Corporate insiders own 22.68% of the company's stock.

Snap Company 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.