TB Alternative Assets Ltd. Has $8.92 Million Stock Holdings in Snap Inc. (NYSE:SNAP)

TB Alternative Assets Ltd. lessened its position in Snap Inc. (NYSE:SNAP) by 75.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,023,649 shares of the company’s stock after selling 3,190,863 shares during the period. Snap comprises approximately 2.1% of TB Alternative Assets Ltd.’s holdings, making the stock its 13th biggest holding. TB Alternative Assets Ltd. owned about 0.06% of Snap worth $8,916,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors raised its holdings in shares of Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after buying an additional 23,569,522 shares during the last quarter. SRS Investment Management LLC raised its holdings in shares of Snap by 1.4% in the fourth quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock valued at $793,998,000 after buying an additional 1,001,632 shares during the last quarter. Capital International Investors bought a new position in shares of Snap in the fourth quarter valued at about $422,049,000. Geode Capital Management LLC raised its holdings in shares of Snap by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock valued at $127,078,000 after buying an additional 134,017 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Snap by 13.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company’s stock valued at $76,201,000 after buying an additional 828,285 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Activity at Snap

In related news, CAO Rebecca Morrow sold 9,202 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $8.59, for a total value of $79,045.18. Following the completion of the transaction, the chief accounting officer now directly owns 448,881 shares in the company, valued at approximately $3,855,887.79. The trade was a 2.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 22,720 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.58, for a total value of $194,937.60. Following the transaction, the chief financial officer now directly owns 3,541,515 shares of the company’s stock, valued at approximately $30,386,198.70. This trade represents a 0.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,634,313 shares of company stock worth $22,581,690. 22.68% of the stock is owned by company insiders.

Snap Price Performance

Shares of SNAP opened at $8.26 on Friday. 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 stock has a 50 day simple moving average of $8.27 and a 200 day simple moving average of $9.92. Snap Inc. has a 52-week low of $7.08 and a 52-week high of $17.33. The firm has a market capitalization of $13.80 billion, a PE ratio of -19.67 and a beta of 0.61.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Snap’s revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts predict that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citizens Jmp raised Snap from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $12.00 price target on shares of Snap in a report on Wednesday, April 30th. Truist Financial cut their price target on Snap from $14.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Canaccord Genuity Group cut their price target on Snap from $10.00 to $9.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Finally, Wells Fargo & Company dropped their price objective on Snap from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.62.

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.