Invenomic Capital Management LP Acquires 488,284 Shares of Snap Inc. (NYSE:SNAP)

Invenomic Capital Management LP grew its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 222.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 707,817 shares of the company's stock after buying an additional 488,284 shares during the quarter. Invenomic Capital Management LP's holdings in Snap were worth $7,623,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SNAP. Investment Management Corp of Ontario boosted its holdings in shares of Snap by 68.4% in the 4th quarter. Investment Management Corp of Ontario now owns 58,199 shares of the company's stock worth $627,000 after purchasing an additional 23,643 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Snap by 30.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,441,259 shares of the company's stock worth $37,062,000 after buying an additional 801,578 shares during the last quarter. Gotham Asset Management LLC purchased a new position in Snap during the fourth quarter worth $339,000. Graham Capital Management L.P. bought a new position in Snap during the fourth quarter valued at $1,466,000. Finally, Focus Partners Wealth purchased a new stake in shares of Snap in the fourth quarter valued at $145,000. Institutional investors own 47.52% of the company's stock.

Insider Activity

In related news, CAO Rebecca Morrow sold 8,837 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the transaction, the chief accounting officer now owns 429,892 shares in the company, valued at approximately $4,660,029.28. This represents a 2.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 of the company's stock, valued at approximately $504,599,673.92. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,362,523 shares of company stock valued at $20,719,017 over the last ninety days. 22.68% of the stock is currently owned by insiders.

Snap Stock Up 0.4 %

Snap stock opened at $8.25 on Friday. The business has a fifty day moving average price of $8.53 and a 200-day moving average price of $10.32. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap Inc. has a 1-year low of $7.08 and a 1-year high of $17.33. The stock has a market capitalization of $13.99 billion, a price-to-earnings ratio of -19.64 and a beta of 0.61.

Snap (NYSE:SNAP - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $1.35 billion. Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The business's revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 EPS. Equities research analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on SNAP. BMO Capital Markets dropped their price target on shares of Snap from $16.00 to $13.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company decreased their price target on Snap from $9.00 to $8.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Citizens Jmp upgraded Snap from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. JPMorgan Chase & Co. reduced their target price on Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Susquehanna cut their price target on shares of Snap from $13.00 to $8.00 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 assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Snap presently has an average rating of "Hold" and a consensus target price of $35.50.

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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