Versor Investments LP Sells 121,254 Shares of Snap Inc. (NYSE:SNAP)

Versor Investments LP trimmed its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 85.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,200 shares of the company's stock after selling 121,254 shares during the period. Versor Investments LP's holdings in Snap were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. NBC Securities Inc. raised its position in Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company's stock valued at $25,000 after buying an additional 1,445 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock valued at $36,000 after purchasing an additional 1,682 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Snap during the second quarter valued at about $40,000. J.Safra Asset Management Corp boosted its holdings in Snap by 534.4% during the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company's stock worth $46,000 after purchasing an additional 2,330 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in Snap during the fourth quarter worth about $51,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Price Performance

Shares of Snap stock traded down $0.25 during trading on Friday, hitting $8.62. The stock had a trading volume of 24,913,219 shares, compared to its average volume of 27,387,121. The firm has a market cap of $14.15 billion, a price-to-earnings ratio of -10.64 and a beta of 1.00. Snap Inc. has a 12 month low of $8.28 and a 12 month high of $17.90. The business's 50-day moving average is $11.96 and its 200 day moving average is $12.91. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. As a group, sell-side analysts anticipate that Snap Inc. will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now directly owns 58,553,813 shares of the company's stock, valued at approximately $508,832,634.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the sale, the chief technology officer now directly owns 58,553,813 shares of the company's stock, valued at $508,832,634.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joanna Coles sold 3,950 shares of the firm's stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $15.17, for a total value of $59,921.50. Following the transaction, the director now directly owns 46,492 shares in the company, valued at $705,283.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,356,370 shares of company stock worth $12,151,603. Corporate insiders own 22.68% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SNAP. Susquehanna dropped their target price on shares of Snap from $15.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, August 2nd. Hsbc Global Res lowered Snap from a "strong-buy" rating to a "hold" rating in a report on Friday, August 2nd. Morgan Stanley upgraded Snap from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $12.00 to $16.00 in a research note on Tuesday, July 23rd. Benchmark reaffirmed a "hold" rating on shares of Snap in a research report on Tuesday, August 6th. Finally, Argus raised shares of Snap to a "hold" rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $13.87.

Snap 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.