Renaissance Technologies LLC increased its position in Snap Inc (NYSE:SNAP) by 408.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,951,900 shares of the company’s stock after acquiring an additional 7,994,000 shares during the period. Renaissance Technologies LLC owned approximately 0.71% of Snap worth $162,515,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dowling & Yahnke LLC grew its holdings in Snap by 21.9% during the 4th quarter. Dowling & Yahnke LLC now owns 17,480 shares of the company’s stock valued at $285,000 after buying an additional 3,146 shares during the last quarter. State Street Corp grew its holdings in Snap by 0.3% during the 3rd quarter. State Street Corp now owns 7,121,513 shares of the company’s stock valued at $112,520,000 after buying an additional 23,480 shares during the last quarter. Polianta Ltd acquired a new stake in shares of Snap during the fourth quarter worth $1,236,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Snap by 12.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 42,465 shares of the company’s stock worth $693,000 after purchasing an additional 4,623 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Snap by 269.4% during the fourth quarter. CWM LLC now owns 9,324 shares of the company’s stock worth $152,000 after purchasing an additional 6,800 shares during the last quarter. Institutional investors and hedge funds own 36.32% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Aegis assumed coverage on Snap in a report on Wednesday, December 11th. They set a “buy” rating and a $24.00 price objective on the stock. Sanford C. Bernstein assumed coverage on Snap in a report on Thursday, January 9th. They set an “outperform” rating and a $20.00 price objective on the stock. Nomura restated a “hold” rating and set a $16.00 price objective on shares of Snap in a report on Monday, January 6th. Needham & Company LLC restated a “hold” rating on shares of Snap in a report on Friday, January 31st. Finally, Guggenheim raised their price objective on Snap from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $19.17.
In related news, Director Stanley J. Meresman sold 27,000 shares of Snap stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $17.62, for a total value of $475,740.00. Following the completion of the transaction, the director now directly owns 154,180 shares in the company, valued at $2,716,651.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,500 shares of Snap stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $15.09, for a total value of $279,165.00. Following the completion of the transaction, the general counsel now owns 1,427,176 shares of the company’s stock, valued at $21,536,085.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,684,914 shares of company stock worth $41,609,045.
NYSE:SNAP traded down $0.41 during mid-day trading on Thursday, hitting $10.40. The company had a trading volume of 31,173,592 shares, compared to its average volume of 25,870,142. The business has a fifty day simple moving average of $16.47 and a 200-day simple moving average of $15.74. The company has a current ratio of 5.29, a quick ratio of 5.29 and a debt-to-equity ratio of 0.53. Snap Inc has a 1 year low of $9.68 and a 1 year high of $19.75. The firm has a market capitalization of $17.03 billion, a price-to-earnings ratio of -13.87 and a beta of 1.31.
Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. Snap had a negative return on equity of 46.63% and a negative net margin of 60.25%. The company had revenue of $560.90 million for the quarter, compared to analyst estimates of $561.87 million. During the same period last year, the company posted ($0.04) earnings per share. The firm’s revenue was up 43.9% compared to the same quarter last year. As a group, research analysts anticipate that Snap Inc will post -0.53 earnings per share for the current year.
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
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