PDT Partners LLC Has $4.86 Million Stock Position in Snap Inc. (NYSE:SNAP)

PDT Partners LLC trimmed its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 451,300 shares of the company's stock after selling 77,003 shares during the period. PDT Partners LLC's holdings in Snap were worth $4,861,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its stake in Snap by 3.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company's stock valued at $335,000 after buying an additional 901 shares during the period. HCR Wealth Advisors increased its stake 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 acquiring an additional 934 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Snap by 1.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company's stock worth $661,000 after acquiring an additional 1,033 shares in the last quarter. Empowered Funds LLC boosted its position in Snap by 3.1% during the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after purchasing an additional 1,055 shares during the last quarter. Finally, Trajan Wealth LLC grew its stake in Snap by 5.9% in the fourth quarter. Trajan Wealth LLC now owns 20,191 shares of the company's stock valued at $217,000 after purchasing an additional 1,132 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SNAP. Royal Bank of Canada reiterated a "sector perform" rating and set a $12.00 price target on shares of Snap in a report on Wednesday. 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. BMO Capital Markets reduced their price objective on shares of Snap from $16.00 to $13.00 and set an "outperform" rating for the company in a research note on Wednesday. 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 research report on Wednesday. Finally, Bank of America reduced their price objective on shares of Snap from $14.50 to $10.50 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Snap currently has a consensus rating of "Hold" and a consensus target price of $35.58.

Insider Activity

In related news, CFO Derek Andersen sold 61,334 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $664,860.56. Following the completion of the sale, the chief financial officer now owns 3,564,235 shares in the company, valued at $38,636,307.40. This represents a 1.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Young sold 102,152 shares of Snap stock in a transaction dated 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 transaction, the senior vice president now owns 3,443,419 shares in the company, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,362,523 shares of company stock valued at $12,689,017 over the last 90 days. 22.68% of the stock is owned by company insiders.

Snap Price Performance

Shares of NYSE:SNAP traded up $0.61 during midday trading on Friday, reaching $8.44. The company's stock had a trading volume of 79,060,303 shares, compared to its average volume of 28,387,780. The business's fifty day simple moving average is $8.69 and its 200-day simple moving average is $10.39. The company has a market capitalization of $14.32 billion, a P/E ratio of -20.09 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 Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the company posted $0.03 earnings per share. Snap's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities research analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

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.