Jericho Capital Asset Management L.P. Has $71.42 Million Holdings in Snap Inc. (NYSE:SNAP)

Jericho Capital Asset Management L.P. lessened its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 39.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,631,299 shares of the company's stock after selling 4,315,669 shares during the period. Snap makes up 1.0% of Jericho Capital Asset Management L.P.'s portfolio, making the stock its 27th biggest position. Jericho Capital Asset Management L.P. owned approximately 0.40% of Snap worth $71,419,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Everence Capital Management Inc. bought a new position in shares of Snap during the fourth quarter worth about $437,000. FNY Investment Advisers LLC grew its stake in shares of Snap by 1,756.8% during the 4th quarter. FNY Investment Advisers LLC now owns 13,740 shares of the company's stock worth $147,000 after acquiring an additional 13,000 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Snap by 51.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company's stock valued at $33,244,000 after purchasing an additional 1,050,501 shares during the last quarter. HCR Wealth Advisors lifted its position in shares of Snap by 3.9% in the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company's stock worth $269,000 after purchasing an additional 934 shares in the last quarter. Finally, RDA Financial Network acquired a new position in Snap during the fourth quarter worth $123,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snap

In other Snap 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 transaction of $95,793.08. Following the completion of the sale, the chief accounting officer now owns 429,892 shares of the company's stock, valued at approximately $4,660,029.28. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business's 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 completion of the transaction, the chief technology officer now owns 55,818,548 shares in the company, valued at $504,599,673.92. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,362,523 shares of company stock worth $12,689,017. Insiders own 22.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SNAP shares. Barclays reiterated an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. JMP Securities set a $12.00 target price on Snap in a research report on Friday, April 25th. Piper Sandler cut their price target on shares of Snap from $13.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Rosenblatt Securities dropped their price target on Snap from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Citizens Jmp raised shares of Snap from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $35.58.

Snap Price Performance

NYSE:SNAP traded up $0.61 on Friday, hitting $8.44. The company had a trading volume of 79,060,303 shares, compared to its average volume of 28,387,780. The firm has a 50 day moving average of $8.69 and a two-hundred day moving average of $10.39. The stock has a market capitalization of $14.32 billion, a price-to-earnings ratio of -20.09 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) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the business earned $0.03 EPS. The company's revenue was up 14.1% compared to the same quarter last year. On average, research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

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.