Entropy Technologies LP Makes New $828,000 Investment in Snap Inc. (NYSE:SNAP)

Entropy Technologies LP bought a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 77,425 shares of the company's stock, valued at approximately $828,000.

A number of other hedge funds have also added to or reduced their stakes in SNAP. Marshall Wace LLP increased its position in shares of Snap by 587.3% during the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company's stock worth $243,629,000 after purchasing an additional 12,533,653 shares during the last quarter. 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 acquiring an additional 4,098,847 shares during the period. Discovery Capital Management LLC CT acquired a new position in shares of Snap during the 2nd quarter worth about $22,591,000. Assenagon Asset Management S.A. raised its holdings in shares of Snap by 74.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company's stock valued at $46,913,000 after purchasing an additional 1,201,565 shares during the period. Finally, Curated Wealth Partners LLC lifted its stake in Snap by 200.0% in the 2nd quarter. Curated Wealth Partners LLC now owns 536,541 shares of the company's stock valued at $8,912,000 after purchasing an additional 1,073,082 shares during the last quarter. Institutional investors own 47.52% of the company's stock.

Snap Price Performance

Shares of Snap stock traded down $0.15 during trading on Friday, reaching $10.61. 20,891,155 shares of the company's stock were exchanged, compared to its average volume of 27,793,930. The firm's 50-day moving average price is $10.60 and its 200 day moving average price is $12.73. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.90.

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

Insiders Place Their Bets

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the transaction, the chief technology officer now owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael J. O'sullivan sold 18,000 shares of the firm's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.31, for a total value of $221,580.00. Following the transaction, the general counsel now directly owns 471,058 shares of the company's stock, valued at approximately $5,798,723.98. This represents a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,221,220 shares of company stock valued at $14,659,201. 22.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SNAP shares. Bank of America boosted their price target on Snap from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Royal Bank of Canada reissued a "sector perform" rating and set a $16.00 target price on shares of Snap in a report on Wednesday, October 30th. B. Riley lifted their price objective on shares of Snap from $11.00 to $12.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on shares of Snap from $12.00 to $13.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. Finally, JMP Securities reduced their target price on shares of Snap from $17.00 to $16.00 and set a "market outperform" rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $14.31.

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.