Arrowstreet Capital Limited Partnership bought a new stake in Snap Inc. (NYSE:SNAP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,009,161 shares of the company's stock, valued at approximately $21,639,000. Arrowstreet Capital Limited Partnership owned about 0.12% of Snap at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. bought a new stake in shares of Snap in the fourth quarter worth about $27,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Snap during the fourth quarter valued at approximately $32,000. Blue Trust Inc. raised its holdings in shares of Snap by 128.0% during the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock valued at $47,000 after acquiring an additional 2,453 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in Snap in the fourth quarter worth $54,000. Finally, V Square Quantitative Management LLC lifted its stake in Snap by 213.3% in the fourth quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company's stock worth $91,000 after acquiring an additional 5,704 shares during the period. Institutional investors own 47.52% of the company's stock.
Insider Buying and Selling at Snap
In other Snap news, CAO Rebecca Morrow sold 8,837 shares of Snap 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 owns 429,892 shares in the company, valued at approximately $4,660,029.28. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total value of $9,040,000.00. Following the completion of the sale, the chief technology officer now owns 55,818,548 shares in the company, valued at $504,599,673.92. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,356,523 shares of company stock worth $12,710,077. 22.68% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Citigroup increased their price target on shares of Snap from $13.00 to $13.50 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Barclays restated an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. Susquehanna upped their target price on shares of Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Guggenheim restated a "neutral" rating on shares of Snap in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Snap from $11.00 to $10.00 and set an "underweight" rating for the company in a research note 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $36.80.
Check Out Our Latest Report on Snap
Snap Stock Up 0.4 %
NYSE SNAP traded up $0.04 on Friday, hitting $8.06. The stock had a trading volume of 48,608,525 shares, compared to its average volume of 27,544,906. Snap Inc. has a 52-week low of $7.66 and a 52-week high of $17.33. The business's fifty day moving average price is $9.95 and its 200 day moving average price is $10.77. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of -19.18 and a beta of 0.92.
Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Equities research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.
Snap Company Profile
(
Free Report)
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.
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