Gryphon Financial Partners LLC Makes New Investment in Snap Inc. (NYSE:SNAP)

Gryphon Financial Partners LLC acquired a new stake in Snap Inc. (NYSE:SNAP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 90,000 shares of the company's stock, valued at approximately $1,495,000.

A number of other large investors have also modified their holdings of SNAP. SRS Investment Management LLC raised its stake in shares of Snap by 23.6% in the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company's stock valued at $1,102,392,000 after purchasing an additional 12,452,415 shares in the last quarter. Carmignac Gestion acquired a new position in Snap during the fourth quarter worth $110,103,000. Contrarius Investment Management Ltd acquired a new position in Snap during the fourth quarter worth $80,644,000. Vanguard Group Inc. raised its stake in Snap by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company's stock worth $1,613,729,000 after acquiring an additional 3,503,230 shares in the last quarter. Finally, TB Alternative Assets Ltd. raised its stake in Snap by 144.5% during the first quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company's stock worth $58,488,000 after acquiring an additional 3,011,400 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the business's stock in a transaction on Tuesday, August 6th. The stock was 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 in the company, valued at approximately $508,832,634.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction on 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 completion of the sale, the chief technology officer now directly owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. O'sullivan sold 18,000 shares of the company's stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the sale, the general counsel now owns 481,908 shares of the company's stock, valued at $7,980,396.48. The disclosure for this sale can be found here. In the last three months, insiders sold 1,352,420 shares of company stock worth $12,091,682. 22.68% of the stock is owned by company insiders.

Snap Stock Up 1.3 %

Snap stock traded up $0.11 during midday trading on Tuesday, reaching $8.64. The stock had a trading volume of 22,402,712 shares, compared to its average volume of 27,351,723. The stock has a market capitalization of $14.34 billion, a P/E ratio of -10.67 and a beta of 1.01. Snap Inc. has a 1-year low of $8.28 and a 1-year high of $17.90. The firm's fifty day simple moving average is $11.80 and its 200-day simple moving average is $12.93. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on SNAP shares. Roth Mkm dropped their price objective on Snap from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Friday, August 2nd. Hsbc Global Res lowered Snap from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 2nd. Truist Financial lowered their target price on Snap from $16.00 to $13.00 and set a "hold" rating for the company in a research note on Friday, August 2nd. Piper Sandler reiterated a "neutral" rating and issued a $12.00 price target (down previously from $15.00) on shares of Snap in a report on Friday, August 2nd. Finally, Citigroup decreased their price target on Snap from $16.00 to $11.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company 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.