Versor Investments LP purchased a new stake in Snap Inc. (NYSE:SNAP - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 182,500 shares of the company's stock, valued at approximately $1,473,000.
Other large investors have also recently added to or reduced their stakes in the company. Korea Investment CORP increased its holdings in Snap by 573.6% in the 3rd quarter. Korea Investment CORP now owns 967,544 shares of the company's stock valued at $7,460,000 after purchasing an additional 823,900 shares in the last quarter. Contrarius Group Holdings Ltd purchased a new position in Snap in the 3rd quarter valued at about $10,256,000. DNB Asset Management AS boosted its position in Snap by 433.6% in the 3rd quarter. DNB Asset Management AS now owns 1,042,873 shares of the company's stock valued at $8,041,000 after buying an additional 847,447 shares during the last quarter. Quantbot Technologies LP boosted its position in Snap by 54.4% in the 3rd quarter. Quantbot Technologies LP now owns 749,724 shares of the company's stock valued at $5,780,000 after buying an additional 264,156 shares during the last quarter. Finally, Ausdal Financial Partners Inc. boosted its position in Snap by 76.3% in the 3rd quarter. Ausdal Financial Partners Inc. now owns 628,109 shares of the company's stock valued at $4,843,000 after buying an additional 271,893 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Snap
In related news, CFO Derek Andersen sold 92,956 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $4.59, for a total transaction of $426,668.04. Following the sale, the chief financial officer owned 3,799,661 shares in the company, valued at $17,440,443.99. This represents a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajit Mohan sold 28,058 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $6.02, for a total transaction of $168,909.16. Following the sale, the insider owned 5,102,676 shares in the company, valued at approximately $30,718,109.52. This trade represents a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 565,573 shares of company stock worth $2,699,781 in the last ninety days.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on SNAP. Loop Capital set a $8.00 price objective on shares of Snap in a research report on Monday, February 23rd. Morgan Stanley decreased their price objective on shares of Snap from $9.50 to $6.50 and set an "equal weight" rating for the company in a research report on Sunday, February 22nd. Sanford C. Bernstein cut shares of Snap from a "market perform" rating to a "market perform" rating in a research report on Monday, April 27th. KeyCorp raised shares of Snap from a "sector weight" rating to an "overweight" rating in a research report on Monday, April 27th. Finally, Citigroup increased their price target on shares of Snap from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $7.91.
Check Out Our Latest Analysis on SNAP
Snap Stock Performance
Shares of SNAP stock opened at $5.76 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.56 and a current ratio of 3.56. Snap Inc. has a one year low of $3.81 and a one year high of $10.41. The company's 50-day simple moving average is $5.17 and its 200-day simple moving average is $6.55. The stock has a market capitalization of $9.72 billion, a price-to-earnings ratio of -23.99 and a beta of 1.05.
Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. Snap had a negative return on equity of 18.69% and a negative net margin of 6.72%.Snap's revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) EPS. Equities analysts anticipate that Snap Inc. will post -0.12 earnings per share for the current fiscal year.
Snap Profile
(
Free Report)
Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.
Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.
Further Reading
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