Metavasi Capital LP bought a new stake in Snap Inc. (NYSE:SNAP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 498,000 shares of the company's stock, valued at approximately $5,363,000. Snap makes up about 1.9% of Metavasi Capital LP's investment portfolio, making the stock its 14th biggest position.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Snap in the 4th quarter valued at $27,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Snap during the fourth quarter valued at approximately $32,000. Osterweis Capital Management Inc. bought a new stake in shares of Snap during the 4th quarter valued at about $43,000. Blue Trust Inc. grew its holdings 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 acquiring an additional 2,453 shares during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in Snap in the fourth quarter worth $54,000. Hedge funds and other institutional investors own 47.52% of the company's stock.
Analyst Ratings Changes
A number of brokerages have weighed in on SNAP. Canaccord Genuity Group cut their price objective on shares of Snap from $10.00 to $9.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Royal Bank of Canada restated a "sector perform" rating and issued a $12.00 price target on shares of Snap in a research note on Wednesday, April 30th. Loop Capital set a $9.00 price objective on Snap in a research note on Friday. B. Riley cut their target price on Snap from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Finally, Truist Financial lowered their price target on Snap from $14.00 to $11.00 and set a "hold" rating for the company in a research 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 issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $35.50.
Get Our Latest Research Report on SNAP
Insider Buying and Selling
In other news, SVP Eric Young sold 102,152 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 value of $1,107,327.68. Following the completion of the transaction, the senior vice president now directly owns 3,443,419 shares of the company's stock, valued at approximately $37,326,661.96. The trade was a 2.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated 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 directly 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 in the last ninety days. 22.68% of the stock is owned by company insiders.
Snap Price Performance
Shares of NYSE SNAP traded down $0.11 during midday trading on Tuesday, reaching $8.45. 19,042,834 shares of the stock traded hands, compared to its average volume of 28,417,264. The company's 50 day moving average is $8.66 and its 200 day moving average is $10.38. Snap Inc. has a one year low of $7.08 and a one year high of $17.33. The stock has a market capitalization of $14.33 billion, a PE ratio of -20.08 and a beta of 0.61. 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 (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). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $0.03 earnings per share. Snap's revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.
Snap Company Profile
(
Free Report)
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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