Worldquant Millennium Advisors LLC Buys New Shares in Snap Inc. (NYSE:SNAP)

Worldquant Millennium Advisors LLC purchased a new stake in shares of Snap Inc. (NYSE:SNAP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,086,828 shares of the company's stock, valued at approximately $11,705,000. Worldquant Millennium Advisors LLC owned about 0.06% of Snap at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Mountain Hill Investment Partners Corp. acquired a new position in shares of Snap during the fourth quarter valued at about $27,000. Raiffeisen Bank International AG bought a new position in shares of Snap during the 4th quarter worth about $30,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Snap during the 4th quarter worth about $32,000. Osterweis Capital Management Inc. bought a new position in shares of Snap during the 4th quarter worth about $43,000. Finally, Blue Trust Inc. boosted its position 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 purchasing an additional 2,453 shares in the last quarter. Institutional investors own 47.52% of the company's stock.

Snap Stock Performance

Shares of SNAP stock traded down $0.21 during trading hours on Friday, hitting $8.23. 18,158,645 shares of the company were exchanged, compared to its average volume of 28,923,928. The firm has a fifty day simple moving average of $8.45 and a 200 day simple moving average of $10.12. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of -19.58 and a beta of 0.61. Snap Inc. has a 52-week low of $7.08 and a 52-week high of $17.33. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). The business 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 firm's quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the business posted $0.03 earnings per share. Research analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O'sullivan sold 24,000 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $7.74, for a total value of $185,760.00. Following the completion of the transaction, the general counsel now directly owns 483,660 shares of the company's stock, valued at $3,743,528.40. This trade represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Young sold 117,592 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.59, for a total transaction of $1,010,115.28. Following the completion of the transaction, the senior vice president now directly owns 3,348,290 shares of the company's stock, valued at approximately $28,761,811.10. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,586,313 shares of company stock valued at $22,190,490. Company insiders own 22.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNAP. JMP Securities set a $12.00 price objective on shares of Snap in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus lowered their target price on shares of Snap from $11.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Citizens Jmp upgraded shares of Snap from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Finally, Rosenblatt Securities lowered their target price on shares of Snap from $12.00 to $9.00 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 company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $35.62.

Snap 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.