Polar Asset Management Partners Inc. Takes Position in Snap Inc. (NYSE:SNAP)

Polar Asset Management Partners Inc. bought a new position in Snap Inc. (NYSE:SNAP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 457,200 shares of the company's stock, valued at approximately $4,924,000.

A number of other large investors have also bought and sold shares of SNAP. Mountain Hill Investment Partners Corp. bought a new stake in shares of Snap during the fourth quarter worth approximately $27,000. Comprehensive Financial Planning Inc. PA acquired a new position in Snap during the fourth quarter worth $32,000. Osterweis Capital Management Inc. bought a new position in Snap in the fourth quarter valued at approximately $43,000. Blue Trust Inc. grew its stake in shares of 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 buying an additional 2,453 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in shares of Snap in the 4th quarter valued at about $54,000. 47.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNAP has been the topic of a number of research analyst reports. B. Riley dropped their price target on Snap from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Susquehanna dropped their price target on Snap from $13.00 to $8.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Guggenheim reissued a "neutral" rating on shares of Snap in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. decreased their target price on shares of Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Canaccord Genuity Group dropped their price objective on Snap from $10.00 to $9.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. One 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Snap currently has an average rating of "Hold" and a consensus target price of $35.62.

Snap Stock Down 0.7%

Shares of SNAP stock traded down $0.06 on Monday, hitting $8.69. The stock had a trading volume of 26,094,903 shares, compared to its average volume of 28,740,900. Snap Inc. has a 12-month low of $7.08 and a 12-month high of $17.33. The stock has a market cap of $14.52 billion, a price-to-earnings ratio of -20.69 and a beta of 0.61. The business has a 50 day moving average of $8.47 and a 200 day moving average of $10.21. 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 for the quarter, missing the consensus estimate of $0.04 by ($0.12). The business had revenue of $1.36 billion during 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 firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. As a group, analysts expect that Snap Inc. will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other Snap news, CFO Derek Andersen sold 61,068 shares of Snap stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $8.60, for a total transaction of $525,184.80. Following the completion of the transaction, the chief financial officer now owns 3,238,304 shares of the company's stock, valued at $27,849,414.40. The trade was a 1.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $8.03, for a total value of $8,030,000.00. Following the sale, the chief technology officer now owns 54,517,308 shares in the company, valued at approximately $437,773,983.24. This represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,632,116 shares of company stock valued at $23,127,182 over the last ninety days. 22.68% of the stock is currently owned by 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.