Militia Capital Management LLC Invests $2.03 Million in Snap Inc. $SNAP

Militia Capital Management LLC purchased a new position in Snap Inc. (NYSE:SNAPFree Report) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 441,700 shares of the company’s stock, valued at approximately $2,032,000.

Other large investors also recently bought and sold shares of the company. Allworth Financial LP boosted its stake in Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after acquiring an additional 1,581 shares in the last quarter. Arax Advisory Partners increased its stake in shares of Snap by 220.0% during the fourth quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock valued at $27,000 after purchasing an additional 2,275 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Snap during the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Snap by 561.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock valued at $29,000 after purchasing an additional 3,071 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Snap during the third quarter valued at approximately $39,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Trading Up 0.5%

Shares of NYSE SNAP opened at $4.71 on Monday. The firm’s 50 day moving average price is $4.97 and its 200-day moving average price is $5.36. Snap Inc. has a 52-week low of $3.81 and a 52-week high of $9.77. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.53 and a current ratio of 3.53. The company has a market cap of $7.96 billion, a PE ratio of -19.65 and a beta of 1.05.

Snap (NYSE:SNAPGet Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business earned ($0.08) EPS. Snap’s revenue was up 12.2% on a year-over-year basis. On average, equities research analysts expect that Snap Inc. will post -0.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on SNAP shares. Guggenheim restated a “neutral” rating and issued a $6.50 price target on shares of Snap in a research note on Thursday, April 16th. Benchmark reiterated a “hold” rating on shares of Snap in a research note on Wednesday, June 17th. KeyCorp raised Snap from a “sector weight” rating to an “overweight” rating in a report on Monday, April 27th. Canaccord Genuity Group cut their target price on Snap from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. Finally, Freedom Capital cut Snap from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twenty-five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Snap currently has an average rating of “Hold” and an average target price of $7.23.

Get Our Latest Research Report on SNAP

Insider Buying and Selling at Snap

In other news, General Counsel Zachary M. Briers sold 11,958 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $6.00, for a total transaction of $71,748.00. Following the transaction, the general counsel directly owned 2,560,835 shares of the company’s stock, valued at $15,365,010. This represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Robert C. Murphy sold 343,945 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $5.88, for a total value of $2,022,396.60. Following the sale, the chief technology officer directly owned 4,963,581 shares in the company, valued at $29,185,856.28. This trade represents a 6.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 2,868,059 shares of company stock worth $15,855,631. Insiders own 22.68% of the company’s stock.

Snap Company Profile

(Free Report)

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.

Further Reading

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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