PDT Partners LLC Sells 77,003 Shares of Snap Inc. (NYSE:SNAP)

PDT Partners LLC lowered its stake in shares of Snap Inc. (NYSE:SNAP) by 14.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. purchased a new position in shares of Snap during the fourth quarter valued at approximately $27,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Snap in the 4th quarter worth $32,000. Osterweis Capital Management Inc. purchased a new stake in shares of Snap in the fourth quarter valued at about $43,000. Blue Trust Inc. boosted its holdings in Snap by 128.0% during the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after purchasing an additional 2,453 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in Snap in the 4th quarter valued at about $54,000. 47.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SNAP has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on Snap from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, March 31st. Stifel Nicolaus reduced their price target on shares of Snap from $11.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Barclays reaffirmed an “overweight” rating on shares of Snap in a research report on Wednesday, February 5th. Canaccord Genuity Group decreased their price target on shares of Snap from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Finally, Citigroup reissued an “outperform” rating on shares of Snap in a report on Friday. One equities research analyst has rated the stock with a sell rating, twenty-one have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.92.

Insider Activity at Snap

In other Snap news, CAO Rebecca Morrow sold 8,837 shares of the business’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 $95,793.08. Following the sale, the chief accounting officer now owns 429,892 shares in the company, valued at $4,660,029.28. The trade was a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total value of $9,040,000.00. Following the transaction, 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. In the last ninety days, insiders sold 1,356,523 shares of company stock worth $12,710,077. 22.68% of the stock is owned by company insiders.

Snap Trading Up 3.6 %

SNAP stock opened at $8.85 on Tuesday. The company has a market capitalization of $15.01 billion, a PE ratio of -21.07 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The company’s 50 day moving average price is $8.86 and its two-hundred day moving average price is $10.46. Snap Inc. has a one year low of $7.08 and a one year high of $17.33.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, analysts predict that Snap Inc. will post -0.3 earnings per share 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.