Holocene Advisors LP Invests $3.44 Million in Snap Inc. (NYSE:SNAP)

Holocene Advisors LP acquired a new stake in Snap Inc. (NYSE:SNAP - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 321,134 shares of the company's stock, valued at approximately $3,436,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Advisors LLC increased its stake in Snap by 32.0% in the first quarter. Cetera Advisors LLC now owns 18,631 shares of the company's stock valued at $214,000 after purchasing an additional 4,517 shares during the last quarter. CWM LLC boosted its stake in Snap by 83.3% in the second quarter. CWM LLC now owns 97,721 shares of the company's stock valued at $1,623,000 after acquiring an additional 44,405 shares in the last quarter. Curated Wealth Partners LLC grew its holdings in shares of Snap by 200.0% during the second quarter. Curated Wealth Partners LLC now owns 536,541 shares of the company's stock worth $8,912,000 after purchasing an additional 1,073,082 shares during the last quarter. Wedmont Private Capital increased its position in shares of Snap by 6.9% during the second quarter. Wedmont Private Capital now owns 29,394 shares of the company's stock worth $476,000 after purchasing an additional 1,894 shares in the last quarter. Finally, DMC Group LLC lifted its holdings in shares of Snap by 10.5% in the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company's stock valued at $259,000 after purchasing an additional 1,477 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $11.89, for a total transaction of $214,020.00. Following the completion of the sale, the general counsel now directly owns 464,009 shares in the company, valued at $5,517,067.01. This trade represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Derek Andersen sold 97,608 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the transaction, the chief financial officer now owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. This trade represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,406,709 shares of company stock valued at $16,662,107. Corporate insiders own 22.68% of the company's stock.

Snap Trading Up 2.2 %

Shares of SNAP stock traded up $0.27 on Friday, reaching $12.44. 58,071,961 shares of the stock were exchanged, compared to its average volume of 27,853,646. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.90. The stock has a market cap of $20.86 billion, a P/E ratio of -20.96 and a beta of 0.97. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The firm has a 50 day moving average of $11.20 and a two-hundred day moving average of $12.24.

Snap (NYSE:SNAP - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company's revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) EPS. On average, research analysts anticipate that Snap Inc. will post -0.4 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SNAP. JMP Securities lowered their price objective on shares of Snap from $17.00 to $16.00 and set a "market outperform" rating on the stock in a research report on Wednesday, October 30th. Truist Financial boosted their price target on Snap from $13.00 to $14.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Guggenheim reiterated a "buy" rating and issued a $12.11 target price on shares of Snap in a research note on Tuesday. Citigroup upped their price target on Snap from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, November 29th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $13.00 price objective (up from $12.00) on shares of Snap in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $37.10.

About Snap

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.