Banco Santander S.A. Takes $6.33 Million Position in Snap Inc. (NYSE:SNAP)

Banco Santander S.A. bought a new position in Snap Inc. (NYSE:SNAP - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 592,001 shares of the company's stock, valued at approximately $6,334,000.

Other institutional investors have also bought and sold shares of the company. Landscape Capital Management L.L.C. purchased a new stake in shares of Snap during the 3rd quarter valued at approximately $2,385,000. Intech Investment Management LLC raised its position in shares of Snap by 1.9% during the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company's stock valued at $830,000 after buying an additional 1,433 shares during the period. EULAV Asset Management raised its position in shares of Snap by 47.1% during the 3rd quarter. EULAV Asset Management now owns 890,000 shares of the company's stock valued at $9,523,000 after buying an additional 285,000 shares during the period. Advisors Asset Management Inc. raised its position in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock valued at $30,000 after buying an additional 1,632 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Snap by 49.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company's stock valued at $41,842,000 after buying an additional 1,297,348 shares during the period. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Snap

In other news, CFO Derek Andersen sold 97,608 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the sale, the chief financial officer now directly owns 2,287,970 shares of the company's stock, valued at approximately $21,255,241.30. This represents a 4.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric Young sold 112,020 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares of the company's stock, valued at $29,445,556.40. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,406,709 shares of company stock valued at $16,615,487 over the last ninety days. Insiders own 22.68% of the company's stock.

Snap Stock Up 7.4 %

Shares of SNAP stock traded up $0.78 on Friday, reaching $11.42. 39,143,138 shares of the stock were exchanged, compared to its average volume of 27,773,207. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The business's 50 day moving average price is $10.82 and its 200 day moving average price is $12.54. The company has a market capitalization of $19.15 billion, a price-to-earnings ratio of -19.66 and a beta of 0.99. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.90.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the previous year, the company earned ($0.21) earnings per share. Snap's quarterly revenue was up 15.4% compared to the same quarter last year. As a group, sell-side analysts expect that Snap Inc. will post -0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SNAP. Barclays reduced their price target on shares of Snap from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald lifted their price target on shares of Snap from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Evercore ISI lifted their target price on shares of Snap from $12.00 to $15.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. B. Riley lifted their target price on shares of Snap from $11.00 to $12.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $16.00 target price on shares of Snap in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $14.31.

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.