Snap Inc. (NYSE:SNAP) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP decreased its position in Snap Inc. (NYSE:SNAP - Free Report) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,024,327 shares of the company's stock after selling 562,681 shares during the period. Two Sigma Investments LP owned about 0.30% of Snap worth $54,112,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new position in shares of Snap during the 4th quarter worth approximately $27,000. Raiffeisen Bank International AG acquired a new position in Snap during the fourth quarter worth $30,000. Comprehensive Financial Planning Inc. PA acquired a new position in Snap during the fourth quarter worth $32,000. Osterweis Capital Management Inc. purchased a new position in Snap during the fourth quarter valued at $43,000. Finally, Blue Trust Inc. grew its position in shares of Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock valued at $47,000 after purchasing an additional 2,453 shares during the period. Institutional investors and hedge funds own 47.52% of the company's stock.

Insider Activity

In other Snap news, CAO Rebecca Morrow sold 9,202 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.59, for a total transaction of $79,045.18. Following the sale, the chief accounting officer now directly owns 448,881 shares in the company, valued at $3,855,887.79. This represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 owns 55,818,548 shares in the company, valued at approximately $504,599,673.92. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,586,313 shares of company stock valued at $22,190,490. Company insiders own 22.68% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Susquehanna reduced their price target on shares of Snap from $13.00 to $8.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Truist Financial cut their price objective on Snap from $14.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Bank of America decreased their target price on Snap from $14.50 to $10.50 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Stifel Nicolaus lowered their price target on Snap from $11.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group reduced their price objective on Snap from $9.50 to $8.50 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Snap has a consensus rating of "Hold" and a consensus target price of $35.62.

Snap Trading Down 2.4%

Shares of Snap stock traded down $0.21 during trading hours on Friday, hitting $8.23. The company's stock had a trading volume of 18,158,645 shares, compared to its average volume of 28,799,721. The stock has a market cap 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 Inc. has a twelve month low of $7.08 and a twelve month high of $17.33. The firm has a fifty day moving average of $8.46 and a 200-day moving average of $10.16.

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). The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The firm's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. Research analysts forecast that Snap Inc. will post -0.3 EPS 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.