Snap Inc. $SNAP Stock Position Raised by Sei Investments Co.

Sei Investments Co. increased its position in Snap Inc. (NYSE:SNAPFree Report) by 700.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 180,466 shares of the company’s stock after purchasing an additional 157,920 shares during the period. Sei Investments Co.’s holdings in Snap were worth $830,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNAP. Vanguard Group Inc. raised its stake in Snap by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 101,251,557 shares of the company’s stock valued at $817,100,000 after purchasing an additional 641,271 shares during the period. Capital World Investors boosted its position in shares of Snap by 1.4% in the fourth quarter. Capital World Investors now owns 88,452,006 shares of the company’s stock worth $713,808,000 after buying an additional 1,179,543 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Snap in the third quarter worth $176,697,000. Geode Capital Management LLC grew its holdings in shares of Snap by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 13,525,119 shares of the company’s stock valued at $108,711,000 after buying an additional 469,795 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in shares of Snap by 53.3% during the third quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock valued at $79,420,000 after buying an additional 3,582,223 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Snap Stock Up 1.8%

Snap stock opened at $5.29 on Friday. The company has a market capitalization of $8.94 billion, a P/E ratio of -29.42 and a beta of 1.03. The firm’s fifty day simple moving average is $4.88 and its 200-day simple moving average is $5.22. 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 Inc. has a 1-year low of $3.81 and a 1-year high of $9.28.

Snap (NYSE:SNAPGet Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Snap had a negative net margin of 4.90% and a negative return on equity of 14.61%. Snap’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) earnings per share. Sell-side analysts forecast that Snap Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Zachary M. Briers sold 11,958 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $6.00, for a total value of $71,748.00. Following the transaction, the general counsel directly owned 2,560,835 shares of the company’s stock, valued at approximately $15,365,010. This trade represents a 0.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Robert C. Murphy sold 2,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $5.55, for a total value of $11,100,000.00. Following the completion of the sale, the chief technology officer owned 41,809,791 shares of the company’s stock, valued at approximately $232,044,340.05. This trade represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,868,059 shares of company stock valued at $16,075,631. 22.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Snap from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. Freedom Capital raised Snap from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. KeyCorp upgraded Snap from a “sector weight” rating to an “overweight” rating in a report on Monday, April 27th. Mizuho increased their price target on shares of Snap from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, UBS Group set a $6.00 price target on shares of Snap in a research report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.65.

Get Our Latest Research Report on SNAP

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.

See Also

Institutional Ownership by Quarter for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.