Los Angeles Capital Management LLC Acquires New Position in Snap Inc. (NYSE:SNAP)

Los Angeles Capital Management LLC acquired a new position in Snap Inc. (NYSE:SNAP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 706,990 shares of the company's stock, valued at approximately $7,614,000.

Several other institutional investors and hedge funds have also made changes to their positions in SNAP. Advisors Asset Management Inc. boosted its stake in 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 acquiring an additional 1,632 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Snap in the fourth quarter worth about $32,000. Brooklyn Investment Group acquired a new stake in shares of Snap during the third quarter worth approximately $41,000. Blue Trust Inc. grew its position in 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 purchasing an additional 2,453 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Snap during the third quarter valued at approximately $81,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Snap

In related news, General Counsel Michael J. O'sullivan sold 18,000 shares of the firm's stock in a transaction dated 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 owns 498,498 shares in the company, valued at $5,403,718.32. This trade represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca Morrow sold 32,000 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $12.42, for a total transaction of $397,440.00. Following the completion of the sale, the chief accounting officer now owns 433,064 shares of the company's stock, valued at approximately $5,378,654.88. The trade was a 6.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 481,471 shares of company stock valued at $5,394,906 over the last quarter. 22.68% of the stock is owned by insiders.

Snap Price Performance

Shares of Snap stock traded up $0.27 on Friday, hitting $10.26. The company's stock had a trading volume of 21,440,214 shares, compared to its average volume of 29,646,766. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33. The firm has a fifty day moving average price of $11.09 and a 200-day moving average price of $10.80. The company has a market capitalization of $17.40 billion, a price-to-earnings ratio of -24.42 and a beta of 0.99.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, sell-side analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNAP has been the subject of several recent research reports. Guggenheim downgraded shares of Snap from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 11th. Wells Fargo & Company cut shares of Snap from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $15.00 to $11.00 in a research note on Wednesday, February 5th. Bank of America boosted their price target on shares of Snap from $14.00 to $14.50 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Loop Capital upped their target price on shares of Snap from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Snap from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $36.87.

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.