Magnetar Financial LLC purchased a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 120,254 shares of the company's stock, valued at approximately $1,295,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its position in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock valued at $30,000 after purchasing an additional 1,632 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Snap in the 4th quarter valued at $32,000. Brooklyn Investment Group purchased a new stake in shares of Snap in the 3rd quarter valued at $41,000. Blue Trust Inc. lifted its stake in Snap by 128.0% during the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after acquiring an additional 2,453 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new position in Snap during the 4th quarter valued at about $54,000. 47.52% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
SNAP has been the topic of a number of recent research reports. Bank of America boosted their price target on shares of Snap from $14.00 to $14.50 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. BMO Capital Markets reiterated an "outperform" rating and set a $16.00 target price (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. JPMorgan Chase & Co. decreased their price target on shares of Snap from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Wednesday, February 5th. Barclays reaffirmed an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. Finally, Citigroup lifted their target price on Snap from $13.00 to $13.50 and gave the company a "neutral" rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $36.87.
View Our Latest Stock Analysis on SNAP
Insider Activity at Snap
In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the general counsel now directly owns 480,498 shares of the company's stock, valued at $5,520,922.02. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Young sold 102,152 shares of Snap stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $1,107,327.68. Following the completion of the sale, the senior vice president now owns 3,443,419 shares in the company, valued at approximately $37,326,661.96. This trade represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,350,523 shares of company stock worth $12,698,797 in the last three months. Insiders own 22.68% of the company's stock.
Snap Stock Performance
Shares of SNAP traded up $0.09 during mid-day trading on Tuesday, hitting $9.63. 19,978,307 shares of the company's stock were exchanged, compared to its average volume of 25,520,502. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The business's 50 day moving average is $10.33 and its two-hundred day moving average is $10.81. The firm has a market capitalization of $16.34 billion, a P/E ratio of -22.93 and a beta of 0.92.
Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, equities analysts expect that Snap Inc. will post -0.3 earnings per share for the current year.
Snap Profile
(
Free Report)
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.
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