Assenagon Asset Management S.A. Raises Position in Snap Inc. (NYSE:SNAP)

Assenagon Asset Management S.A. grew its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 51.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,086,741 shares of the company's stock after purchasing an additional 1,050,501 shares during the period. Assenagon Asset Management S.A. owned approximately 0.18% of Snap worth $33,244,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Marshall Wace LLP increased its holdings in Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company's stock valued at $243,629,000 after purchasing an additional 12,533,653 shares during the last quarter. TB Alternative Assets Ltd. increased its stake in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company's stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the period. Charles Schwab Investment Management Inc. raised its position in Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company's stock worth $66,462,000 after buying an additional 2,386,519 shares during the last quarter. Discovery Capital Management LLC CT purchased a new position in shares of Snap in the 2nd quarter valued at about $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Snap by 49.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company's stock worth $41,842,000 after buying an additional 1,297,348 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company's stock.

Insiders Place Their Bets

In other Snap news, CAO Rebecca Morrow sold 11,154 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the sale, the chief accounting officer now directly owns 465,064 shares of the company's stock, valued at $4,906,425.20. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael J. O'sullivan sold 18,000 shares of the business's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total value of $195,120.00. Following the completion of the sale, the general counsel now directly owns 498,498 shares in the company, valued at approximately $5,403,718.32. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,451,618 shares of company stock worth $17,560,157 in the last three months. 22.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SNAP has been the subject of several research reports. B. Riley lifted their price target on Snap from $11.00 to $12.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Loop Capital lifted their price objective on Snap from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Piper Sandler reaffirmed a "neutral" rating and set a $13.00 price target (up previously from $12.00) on shares of Snap in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $640.00 price target on shares of Snap in a research report on Thursday, December 5th. Finally, Canaccord Genuity Group boosted their price target on Snap from $12.00 to $13.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $36.99.

Snap Price Performance

SNAP traded down $0.36 during trading on Friday, reaching $10.86. The stock had a trading volume of 48,094,588 shares, compared to its average volume of 32,412,324. The business has a 50-day moving average of $11.55 and a 200-day moving average of $11.40. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap Inc. has a one year low of $8.29 and a one year high of $17.50. The stock has a market cap of $18.21 billion, a PE ratio of -18.72 and a beta of 0.98.

Snap (NYSE:SNAP - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business's revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) EPS. As a group, equities research analysts anticipate that Snap Inc. will post -0.39 EPS for the current fiscal year.

Snap 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.