Jacobs Levy Equity Management Inc. Grows Stake in Snap Inc. (NYSE:SNAP)

Jacobs Levy Equity Management Inc. increased its stake in Snap Inc. (NYSE:SNAP - Free Report) by 30.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,441,259 shares of the company's stock after buying an additional 801,578 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.21% of Snap worth $37,062,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SNAP. Mountain Hill Investment Partners Corp. purchased a new stake in Snap during the fourth quarter valued at about $27,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Snap during the fourth quarter worth about $32,000. Osterweis Capital Management Inc. purchased a new position in Snap in the 4th quarter worth approximately $43,000. Blue Trust Inc. increased its stake in 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 acquiring an additional 2,453 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in shares of Snap during the 4th quarter valued at about $54,000. Institutional investors own 47.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup lowered their price target on shares of Snap from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Truist Financial decreased their price target on shares of Snap from $14.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Rosenblatt Securities cut their price objective on Snap from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Citizens Jmp raised Snap from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. reduced their price target on Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. One 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $35.50.

Snap Stock Performance

Shares of SNAP traded down $0.13 on Wednesday, reaching $8.97. The company's stock had a trading volume of 29,921,849 shares, compared to its average volume of 28,635,458. The stock's 50 day simple moving average is $8.49 and its two-hundred day simple moving average is $10.30. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The stock has a market capitalization of $14.99 billion, a P/E ratio of -21.36 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 issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.12). The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations 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 was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. Research analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Derek Andersen sold 61,334 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $664,860.56. Following the completion of the transaction, the chief financial officer now directly owns 3,564,235 shares of the company's stock, valued at approximately $38,636,307.40. This trade represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. O'sullivan sold 69,119 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $749,249.96. Following the completion of the sale, the general counsel now owns 2,332,140 shares in the company, valued at approximately $25,280,397.60. The trade was a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,362,523 shares of company stock worth $20,719,017 over the last quarter. 22.68% of the stock is currently owned by corporate insiders.

Snap Company 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.