Aigen Investment Management LP Invests $1.35 Million in Snap Inc. (NYSE:SNAP)

Aigen Investment Management LP acquired a new stake in Snap Inc. (NYSE:SNAP - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 125,661 shares of the company's stock, valued at approximately $1,345,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. TB Alternative Assets Ltd. grew its position in shares of Snap by 105.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company's stock valued at $85,406,000 after buying an additional 4,098,847 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new stake in Snap during the 3rd quarter worth about $832,000. Exchange Traded Concepts LLC boosted its position in Snap by 38.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 784,982 shares of the company's stock worth $8,399,000 after acquiring an additional 219,111 shares during the last quarter. APG Asset Management N.V. grew its holdings in Snap by 3.9% in the 2nd quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company's stock valued at $45,835,000 after buying an additional 112,135 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in Snap by 17.0% in the third quarter. Vontobel Holding Ltd. now owns 327,705 shares of the company's stock valued at $3,506,000 after purchasing an additional 47,717 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Argus upgraded Snap to a "hold" rating in a report on Thursday, August 8th. Loop Capital boosted their price objective on shares of Snap from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Canaccord Genuity Group upped their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. HSBC downgraded Snap from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd. Finally, Benchmark restated a "hold" rating on shares of Snap in a research report on Friday, October 25th. One 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 company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $14.31.

Snap Stock Down 6.0 %

Shares of SNAP traded down $0.72 during mid-day trading on Tuesday, reaching $11.24. The company had a trading volume of 38,937,712 shares, compared to its average volume of 27,829,260. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. The firm has a 50-day moving average price of $10.51 and a 200 day moving average price of $12.76. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market capitalization of $18.85 billion, a price-to-earnings ratio of -20.60 and a beta of 0.99.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. The company 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%. Snap's quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.21) EPS. On average, sell-side analysts forecast that Snap Inc. will post -0.41 EPS for the current year.

Insider Activity at Snap

In other Snap news, SVP Eric Young sold 114,097 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the transaction, the senior vice president now owns 3,041,723 shares of the company's stock, valued at $27,710,096.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Rebecca Morrow sold 8,923 shares of Snap stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30. Following the completion of the sale, the chief accounting officer now owns 472,405 shares in the company, valued at approximately $4,298,885.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eric Young sold 114,097 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the transaction, the senior vice president now directly owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,365,051 shares of company stock worth $15,965,178 in the last ninety days. 22.68% of the stock is owned by company insiders.

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.