Vienna Asset Management LLC Makes New Investment in Snap Inc. (NYSE:SNAP)

Vienna Asset Management LLC purchased a new position in Snap Inc. (NYSE:SNAPGet Rating) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,799 shares of the company’s stock, valued at approximately $367,000.

A number of other institutional investors have also modified their holdings of the business. Lone Pine Capital LLC raised its position in Snap by 47.9% in the fourth quarter. Lone Pine Capital LLC now owns 33,478,637 shares of the company’s stock worth $1,574,500,000 after acquiring an additional 10,839,980 shares in the last quarter. Wellington Management Group LLP raised its holdings in Snap by 3.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,070,978 shares of the company’s stock worth $1,113,293,000 after buying an additional 563,111 shares during the period. Baillie Gifford & Co. raised its holdings in Snap by 123.8% during the 4th quarter. Baillie Gifford & Co. now owns 11,709,169 shares of the company’s stock worth $550,682,000 after buying an additional 6,477,834 shares during the period. Geode Capital Management LLC raised its holdings in Snap by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 9,710,964 shares of the company’s stock worth $455,816,000 after buying an additional 452,936 shares during the period. Finally, TD Asset Management Inc. raised its holdings in Snap by 72.7% during the 4th quarter. TD Asset Management Inc. now owns 6,916,034 shares of the company’s stock worth $325,261,000 after buying an additional 2,911,656 shares during the period. Hedge funds and other institutional investors own 53.88% of the company’s stock.

Snap stock traded down $9.68 during trading hours on Tuesday, reaching $12.79. 283,360,578 shares of the company were exchanged, compared to its average volume of 37,072,973. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of -35.53 and a beta of 1.18. The company has a current ratio of 7.19, a quick ratio of 7.19 and a debt-to-equity ratio of 1.05. The stock has a 50-day moving average of $31.06 and a 200 day moving average of $38.23. Snap Inc. has a 12 month low of $12.55 and a 12 month high of $83.34.

Snap (NYSE:SNAPGet Rating) last announced its earnings results on Thursday, April 21st. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). Snap had a negative return on equity of 16.37% and a negative net margin of 12.71%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company earned ($0.19) EPS. The firm’s revenue for the quarter was up 38.1% compared to the same quarter last year. As a group, research analysts forecast that Snap Inc. will post -0.43 EPS for the current year.

Several research firms have issued reports on SNAP. JPMorgan Chase & Co. cut their price objective on Snap from $47.00 to $26.00 in a report on Tuesday. MKM Partners cut their price objective on Snap from $41.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday. Loop Capital cut their price objective on Snap from $68.00 to $65.00 in a report on Friday, March 25th. Truist Financial lowered their target price on Snap from $60.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Jefferies Financial Group lowered their target price on Snap from $52.00 to $30.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, Snap currently has an average rating of “Buy” and a consensus target price of $43.11.

In other news, General Counsel Michael J. O’sullivan sold 43,701 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $23.83, for a total transaction of $1,041,394.83. Following the completion of the transaction, the general counsel now directly owns 774,330 shares in the company, valued at $18,452,283.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $39.85, for a total value of $498,125.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,513,582 shares of company stock valued at $43,834,483.

Snap Company Profile (Get Rating)

Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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