Caprock Group LLC Buys Shares of 62,360 Snap Inc. (NYSE:SNAP)

Caprock Group LLC purchased a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 62,360 shares of the company's stock, valued at approximately $1,036,000.

Several other institutional investors have also made changes to their positions in the stock. Los Angeles Capital Management LLC acquired a new stake in Snap in the second quarter valued at approximately $693,000. TD Asset Management Inc lifted its stake in Snap by 2.1% in the second quarter. TD Asset Management Inc now owns 167,755 shares of the company's stock valued at $2,786,000 after acquiring an additional 3,376 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Snap by 41.1% in the second quarter. CIBC Asset Management Inc now owns 45,322 shares of the company's stock valued at $753,000 after acquiring an additional 13,208 shares during the last quarter. GraniteShares Advisors LLC lifted its stake in Snap by 2.5% in the second quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company's stock valued at $634,000 after acquiring an additional 941 shares during the last quarter. Finally, Retireful LLC acquired a new stake in Snap in the second quarter valued at approximately $2,192,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Price Performance

Shares of SNAP traded up $0.35 during trading hours on Wednesday, hitting $9.00. The stock had a trading volume of 27,087,046 shares, compared to its average volume of 27,350,516. The company's fifty day moving average is $11.65 and its two-hundred day moving average is $12.91. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. Snap Inc. has a 52 week low of $8.28 and a 52 week high of $17.90. The stock has a market capitalization of $14.93 billion, a price-to-earnings ratio of -11.10 and a beta of 1.01.

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

Insider Buying and Selling

In related news, General Counsel Michael J. O'sullivan sold 18,000 shares of the company's stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $16.56, for a total transaction of $298,080.00. Following the transaction, the general counsel now owns 481,908 shares in the company, valued at approximately $7,980,396.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, General Counsel Michael J. O'sullivan sold 18,000 shares of the company's stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $16.56, for a total transaction of $298,080.00. Following the transaction, the general counsel now owns 481,908 shares in the company, valued at approximately $7,980,396.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Evan Spiegel sold 150,000 shares of the company's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total transaction of $1,327,500.00. Following the transaction, the chief executive officer now owns 3,327,844 shares in the company, valued at approximately $29,451,419.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,352,420 shares of company stock worth $12,091,682 in the last 90 days. Corporate insiders own 22.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SNAP shares. Argus upgraded shares of Snap to a "hold" rating in a research note on Thursday, August 8th. Cantor Fitzgerald started coverage on shares of Snap in a research note on Thursday, September 5th. They issued a "neutral" rating and a $8.00 price objective for the company. Piper Sandler restated a "neutral" rating and issued a $12.00 price objective (down from $15.00) on shares of Snap in a research note on Friday, August 2nd. Truist Financial reduced their price objective on shares of Snap from $16.00 to $13.00 and set a "hold" rating for the company in a research note on Friday, August 2nd. Finally, Susquehanna reduced their price objective on shares of Snap from $15.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $13.87.

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.