SFI Advisors LLC bought a new stake in shares of Snap Inc. (NYSE:SNAP – Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 87,114 shares of the company’s stock, valued at approximately $470,000.
A number of other hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. increased its stake in shares of Snap by 278.5% in the third quarter. Assenagon Asset Management S.A. now owns 14,771,533 shares of the company’s stock worth $79,766,000 after buying an additional 10,868,392 shares during the last quarter. Empyrean Capital Partners LP bought a new position in Snap during the 1st quarter valued at $25,300,000. Saba Capital Management L.P. boosted its stake in Snap by 232.5% during the 1st quarter. Saba Capital Management L.P. now owns 4,727,808 shares of the company’s stock valued at $21,748,000 after acquiring an additional 3,306,024 shares during the last quarter. Riposte Capital LLC bought a new position in Snap during the 1st quarter valued at $5,520,000. Finally, Curated Wealth Partners LLC grew its holdings in Snap by 540.0% during the 3rd quarter. Curated Wealth Partners LLC now owns 544,828 shares of the company’s stock worth $2,942,000 after acquiring an additional 459,704 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.
Insider Buying and Selling
In related news, insider Ajit Mohan sold 54,608 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $5.20, for a total value of $283,961.60. Following the sale, the insider owned 4,972,097 shares of the company’s stock, valued at approximately $25,854,904.40. This trade represents a 1.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Rebecca Morrow sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $5.35, for a total value of $107,000.00. Following the transaction, the chief accounting officer owned 578,105 shares of the company’s stock, valued at $3,092,861.75. This represents a 3.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 445,926 shares of company stock valued at $2,326,930 over the last three months. 22.68% of the stock is owned by company insiders.
Snap Trading Up 5.8%
SNAP opened at $5.92 on Thursday. Snap Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $9.13. The company’s 50-day moving average price is $5.76 and its 200 day moving average price is $5.42. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.75.
Snap (NYSE:SNAP – Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.03 earnings per share (EPS) for the quarter. Snap had a negative net margin of 4.90% and a negative return on equity of 14.61%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company posted ($0.06) earnings per share. Snap’s revenue was up 14.3% on a year-over-year basis. Equities research analysts predict that Snap Inc. will post -0.03 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on SNAP. Royal Bank Of Canada reissued a “sector perform” rating and issued a $8.00 target price on shares of Snap in a research report on Thursday, September 17th. Guggenheim reaffirmed a “neutral” rating on shares of Snap in a research report on Wednesday, September 2nd. Zacks Research raised shares of Snap from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Evercore set a $8.00 price target on Snap in a research note on Tuesday, August 4th. Finally, DA Davidson boosted their price objective on Snap from $5.00 to $5.25 and gave the company a “neutral” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.71.
View Our Latest Report on Snap
Snap Company Profile
Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, messages and Stories, while offering creative tools such as augmented reality (AR) Lenses and filters. The platform also includes features such as Snap Map, Spotlight and content from publishers and creators.
Snap generates most of its revenue from digital advertising, including video, augmented reality and other advertising formats delivered across Snapchat.
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