Two Sigma Advisers LP Lowers Stake in Snap Inc. (NYSE:SNAP)

Two Sigma Advisers LP lowered its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 36.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,719,577 shares of the company's stock after selling 2,171,300 shares during the quarter. Two Sigma Advisers LP owned 0.22% of Snap worth $40,060,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. purchased a new position in Snap during the fourth quarter valued at approximately $27,000. Raiffeisen Bank International AG purchased a new position in Snap during the fourth quarter valued at approximately $30,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Snap in the fourth quarter worth $32,000. Osterweis Capital Management Inc. purchased a new position in shares of Snap in the fourth quarter worth $43,000. Finally, Blue Trust Inc. lifted its holdings in shares of Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after buying an additional 2,453 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company's stock.

Insider Transactions at Snap

In other news, CFO Derek Andersen sold 61,068 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.60, for a total value of $525,184.80. Following the transaction, the chief financial officer now directly owns 3,238,304 shares in the company, valued at approximately $27,849,414.40. This represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Eric Young sold 117,592 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $8.59, for a total transaction of $1,010,115.28. Following the completion of the sale, the senior vice president now directly owns 3,348,290 shares of the company's stock, valued at approximately $28,761,811.10. This trade represents a 3.39% decrease in their ownership of the stock. 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. Insiders own 22.68% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNAP. Loop Capital lowered their target price on shares of Snap from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Friday. The Goldman Sachs Group reduced their price target on shares of Snap from $9.50 to $8.50 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Citizens Jmp upgraded shares of Snap from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Cantor Fitzgerald set a $7.00 price target on shares of Snap and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Stifel Nicolaus reduced their price target on shares of Snap from $11.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $35.62.

Snap Trading Down 0.7%

NYSE SNAP opened at $8.69 on Tuesday. The company's 50-day moving average price is $8.47 and its 200-day moving average price is $10.21. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a market cap of $14.52 billion, a PE ratio of -20.69 and a beta of 0.61. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). The company 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 company's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. Equities research analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

About Snap

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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