Two Sigma Advisers LP reduced its stake in Snap Inc. (NYSE:SNAP - Free Report) by 36.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,719,577 shares of the company's stock after selling 2,171,300 shares during the quarter. Two Sigma Advisers LP owned approximately 0.22% of Snap worth $40,060,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Mountain Hill Investment Partners Corp. bought a new position in Snap in the 4th quarter valued at $27,000. Raiffeisen Bank International AG bought a new position in Snap in the 4th quarter valued at $30,000. Comprehensive Financial Planning Inc. PA bought a new position in Snap in the 4th quarter valued at $32,000. Osterweis Capital Management Inc. bought a new position in shares of Snap during the 4th quarter worth $43,000. Finally, Blue Trust Inc. grew its stake in shares of Snap by 128.0% during the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after acquiring an additional 2,453 shares during the period. 47.52% of the stock is owned by hedge funds and other institutional investors.
Snap Stock Performance
SNAP traded down $0.21 during trading on Friday, reaching $8.23. The company's stock had a trading volume of 18,158,645 shares, compared to its average volume of 28,923,928. Snap Inc. has a 52-week low of $7.08 and a 52-week high of $17.33. The company's fifty day moving average price is $8.45 and its 200-day moving average price is $10.12. The company has a market capitalization of $13.75 billion, a price-to-earnings ratio of -19.58 and a beta of 0.61. 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 announced its quarterly earnings data 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 net margin of 13.02% and a negative return on equity of 25.67%. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the prior year, the firm posted $0.03 EPS. Snap's revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have commented on SNAP shares. Loop Capital cut their target price on Snap from $16.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Bank of America lowered their price target on Snap from $14.50 to $10.50 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Guggenheim reaffirmed a "neutral" rating on shares of Snap in a report on Wednesday, April 2nd. Susquehanna lowered their price target on Snap from $13.00 to $8.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group decreased their price objective on Snap from $9.50 to $8.50 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $35.62.
View Our Latest Stock Report on Snap
Insider Buying and Selling at Snap
In related news, CAO Rebecca Morrow sold 9,202 shares of Snap stock in a transaction that occurred on Friday, May 16th. The stock was 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 directly owns 448,881 shares in the company, valued at $3,855,887.79. The trade was a 2.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Eric Young sold 117,592 shares of Snap 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 $1,010,115.28. Following the transaction, the senior vice president now owns 3,348,290 shares of the company's stock, valued at $28,761,811.10. This represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,586,313 shares of company stock valued at $22,190,490. 22.68% of the stock is owned by corporate insiders.
About Snap
(
Free Report)
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.
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