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

Think Investments LP lowered its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,859,900 shares of the company's stock after selling 630,600 shares during the period. Snap accounts for approximately 9.1% of Think Investments LP's investment portfolio, making the stock its 3rd biggest holding. Think Investments LP owned approximately 0.23% of Snap worth $41,571,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Capital International Investors acquired a new stake in shares of Snap during the fourth quarter worth $422,049,000. Capital World Investors boosted its holdings in Snap by 38.9% in the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company's stock valued at $906,161,000 after purchasing an additional 23,569,522 shares during the period. Norges Bank acquired a new position in shares of Snap during the 4th quarter worth approximately $30,162,000. Renaissance Technologies LLC acquired a new stake in shares of Snap in the fourth quarter valued at approximately $27,713,000. Finally, Portolan Capital Management LLC acquired a new stake in shares of Snap in the fourth quarter valued at approximately $25,447,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wells Fargo & Company lowered their price objective on Snap from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. reduced 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. JMP Securities set a $12.00 price target on Snap in a research report on Friday, April 25th. Morgan Stanley dropped their price target on Snap from $8.00 to $6.50 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, B. Riley reduced their price objective on shares of Snap from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $35.62.

Snap Trading Down 1.6%

NYSE SNAP traded down $0.14 during trading hours on Tuesday, reaching $8.54. The company's stock had a trading volume of 28,338,724 shares, compared to its average volume of 28,765,729. The firm has a fifty day simple moving average of $8.48 and a 200-day simple moving average of $10.20. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap Inc. has a 52 week low of $7.08 and a 52 week high of $17.33. The stock has a market cap of $14.27 billion, a P/E ratio of -20.33 and a beta of 0.61.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Snap's revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. Equities analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were 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 in the company, valued at $504,599,673.92. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. O'sullivan sold 24,000 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $7.74, for a total transaction of $185,760.00. Following the sale, the general counsel now directly owns 483,660 shares in the company, valued at $3,743,528.40. This trade represents a 4.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,586,313 shares of company stock valued at $22,190,490 in the last three months. 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.