Two Sigma Investments LP Sells 562,681 Shares of Snap Inc. (NYSE:SNAP)

Two Sigma Investments LP lessened its holdings in Snap Inc. (NYSE:SNAP) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,024,327 shares of the company’s stock after selling 562,681 shares during the period. Two Sigma Investments LP’s holdings in Snap were worth $54,112,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SNAP. State of Wyoming purchased a new stake in Snap during the fourth quarter valued at approximately $61,000. Sender Co & Partners Inc. bought a new position in shares of Snap during the 4th quarter valued at approximately $229,000. Raiffeisen Bank International AG purchased a new stake in Snap during the 4th quarter valued at $30,000. Polar Asset Management Partners Inc. bought a new stake in Snap in the fourth quarter worth $4,924,000. Finally, ProShare Advisors LLC lifted its position in Snap by 58.1% in the fourth quarter. ProShare Advisors LLC now owns 26,292 shares of the company’s stock worth $283,000 after buying an additional 9,657 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SNAP. Guggenheim reiterated a “neutral” rating on shares of Snap in a research report on Wednesday, April 2nd. Rosenblatt Securities cut their price target on shares of Snap from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Stifel Nicolaus reduced their price objective on shares of Snap from $11.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on shares of Snap from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Finally, Bank of America cut their target price on Snap from $14.50 to $10.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $35.62.

Insider Buying and Selling at Snap

In other news, CFO Derek Andersen sold 22,720 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.58, for a total value of $194,937.60. Following the sale, the chief financial officer now directly owns 3,541,515 shares in the company, valued at approximately $30,386,198.70. This trade represents a 0.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the transaction, the chief technology officer now owns 55,818,548 shares of the company’s stock, valued at approximately $504,599,673.92. This trade represents a 1.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,586,313 shares of company stock valued at $22,190,490. 22.68% of the stock is currently owned by corporate insiders.

Snap Trading Down 0.7%

NYSE SNAP opened at $8.69 on Tuesday. Snap Inc. has a one year low of $7.08 and a one year high of $17.33. 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 has a market capitalization of $14.52 billion, a price-to-earnings ratio of -20.69 and a beta of 0.61. The company’s 50-day simple moving average is $8.47 and its two-hundred day simple moving average is $10.21.

Snap (NYSE:SNAP) last released its quarterly earnings data 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). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Snap’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 earnings per share. Equities analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.

Snap 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.