Portolan Capital Management LLC Takes $25.45 Million Position in Snap Inc. (NYSE:SNAP)

Portolan Capital Management LLC acquired a new position in Snap Inc. (NYSE:SNAP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,362,784 shares of the company's stock, valued at approximately $25,447,000. Snap comprises approximately 1.7% of Portolan Capital Management LLC's investment portfolio, making the stock its 14th largest holding. Portolan Capital Management LLC owned about 0.14% of Snap at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mountain Hill Investment Partners Corp. bought a new stake in shares of Snap during the 4th quarter worth $27,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Snap during the fourth quarter valued at about $32,000. Blue Trust Inc. boosted its holdings in shares of Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after buying an additional 2,453 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in shares of Snap during the fourth quarter valued at approximately $54,000. Finally, V Square Quantitative Management LLC lifted its position in shares of Snap by 213.3% in the 4th quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company's stock valued at $91,000 after acquiring an additional 5,704 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SNAP. BMO Capital Markets restated an "outperform" rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. The Goldman Sachs Group dropped their target price on Snap from $13.50 to $9.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. UBS Group lowered their price objective on shares of Snap from $14.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. lowered their price target on shares of Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Finally, Susquehanna lifted their price objective on Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $35.60.

Insider Activity

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the sale, the chief technology officer now directly owns 55,818,548 shares in the company, valued at approximately $504,599,673.92. The trade was a 1.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 8,837 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the transaction, the chief accounting officer now directly owns 429,892 shares of the company's stock, valued at $4,660,029.28. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,356,523 shares of company stock worth $12,710,077. Company insiders own 22.68% of the company's stock.

Snap Stock Performance

Snap stock traded up $0.12 during mid-day trading on Friday, reaching $7.86. The company had a trading volume of 32,068,115 shares, compared to its average volume of 28,032,991. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm has a market cap of $13.34 billion, a price-to-earnings ratio of -18.72 and a beta of 0.92. The company has a 50 day moving average of $9.25 and a 200-day moving average of $10.59. Snap Inc. has a 52 week low of $7.08 and a 52 week high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, sell-side analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Snap Company 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.