Columbus Hill Capital Management L.P. Takes $4.59 Million Position in Snap Inc. (NYSE:SNAP)

Columbus Hill Capital Management L.P. bought a new position in Snap Inc. (NYSE:SNAP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 425,800 shares of the company's stock, valued at approximately $4,586,000. Snap accounts for 0.9% of Columbus Hill Capital Management L.P.'s investment portfolio, making the stock its 20th biggest holding.

A number of other institutional investors have also recently bought and sold shares of SNAP. Geode Capital Management LLC boosted its holdings in Snap by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company's stock valued at $127,078,000 after purchasing an additional 134,017 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Snap by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock valued at $71,095,000 after buying an additional 389,812 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Snap by 0.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company's stock valued at $34,950,000 after acquiring an additional 15,294 shares during the period. Assenagon Asset Management S.A. raised its stake in Snap by 51.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company's stock worth $33,244,000 after acquiring an additional 1,050,501 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Snap during the fourth quarter valued at $30,162,000. Institutional investors and hedge funds own 47.52% of the company's stock.

Insider Activity at Snap

In related news, General Counsel Michael J. O'sullivan sold 18,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the sale, the general counsel now owns 480,498 shares in the company, valued at approximately $5,520,922.02. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Eric Young sold 102,152 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $1,107,327.68. Following the completion of the transaction, the senior vice president now owns 3,443,419 shares in the company, valued at $37,326,661.96. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,356,523 shares of company stock worth $12,710,077. Corporate insiders own 22.68% of the company's stock.

Snap Stock Up 1.9 %

SNAP stock traded up $0.15 during mid-day trading on Friday, reaching $7.98. 14,799,101 shares of the company traded hands, compared to its average volume of 28,105,833. The stock has a market cap of $13.53 billion, a price-to-earnings ratio of -18.94 and a beta of 0.92. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $17.33. The firm's 50 day moving average price is $9.55 and its 200 day moving average price is $10.68.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, equities research analysts predict that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNAP. Citigroup upped their target price on shares of Snap from $13.00 to $13.50 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Barclays reaffirmed an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. Citizens Jmp upgraded shares of Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Piper Sandler reduced their target price on Snap from $13.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Snap in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $36.32.

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.