Tobam Sells 85,693 Shares of Snap Inc. $SNAP

Tobam trimmed its stake in Snap Inc. (NYSE:SNAP) by 42.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 116,036 shares of the company’s stock after selling 85,693 shares during the period. Tobam’s holdings in Snap were worth $1,008,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNAP. Apollon Wealth Management LLC boosted its stake in Snap by 9.2% in the 2nd quarter. Apollon Wealth Management LLC now owns 15,934 shares of the company’s stock valued at $138,000 after buying an additional 1,340 shares in the last quarter. Zullo Investment Group Inc. boosted its holdings in shares of Snap by 12.8% in the second quarter. Zullo Investment Group Inc. now owns 12,040 shares of the company’s stock valued at $105,000 after buying an additional 1,365 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Snap by 2.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 70,608 shares of the company’s stock valued at $614,000 after purchasing an additional 1,743 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Snap by 5.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 32,439 shares of the company’s stock valued at $283,000 after acquiring an additional 1,755 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Snap by 169.9% during the second quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock valued at $26,000 after purchasing an additional 1,852 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

Snap Stock Up 0.7%

Shares of SNAP opened at $8.75 on Wednesday. The firm has a market cap of $14.79 billion, a P/E ratio of -30.17 and a beta of 0.89. The stock has a 50 day simple moving average of $7.90 and a two-hundred day simple moving average of $8.26. Snap Inc. has a 1 year low of $6.90 and a 1 year high of $13.28. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.67 and a quick ratio of 3.67.

Snap (NYSE:SNAP) last issued its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the business posted ($0.09) EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Snap has set its Q4 2025 guidance at EPS. On average, analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Michael J. O’sullivan sold 68,705 shares of Snap stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $7.18, for a total value of $493,301.90. Following the completion of the transaction, the general counsel owned 2,015,624 shares of the company’s stock, valued at $14,472,180.32. The trade was a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Derek Andersen sold 60,966 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $7.17, for a total transaction of $437,126.22. Following the completion of the transaction, the chief financial officer owned 3,143,452 shares in the company, valued at approximately $22,538,550.84. This represents a 1.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 510,569 shares of company stock worth $3,741,723.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group upped their price objective on Snap from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. TD Cowen increased their price objective on shares of Snap from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, July 15th. New Street Research cut Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, October 28th. Bank of America decreased their price objective on Snap from $10.00 to $9.50 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Finally, Piper Sandler raised their price objective on shares of Snap from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus target price of $34.98.

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.