Snap Inc. (NYSE:SNAP) Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd lessened its stake in Snap Inc. (NYSE:SNAP - Free Report) by 83.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 18,713 shares of the company's stock after selling 97,583 shares during the period. WINTON GROUP Ltd's holdings in Snap were worth $311,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNAP. Blue Trust Inc. lifted its position in shares of Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock worth $36,000 after purchasing an additional 1,682 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Snap during the 2nd quarter worth approximately $40,000. J.Safra Asset Management Corp boosted its position in Snap by 534.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company's stock valued at $46,000 after buying an additional 2,330 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new position in Snap in the 1st quarter valued at approximately $100,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Snap in the fourth quarter worth $108,000. Hedge funds and other institutional investors own 47.52% of the company's stock.

Analyst Ratings Changes

SNAP has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $14.00 target price on shares of Snap in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on Snap from $13.00 to $11.00 and set an "underweight" rating for the company in a research note on Friday, August 2nd. Wolfe Research began coverage on shares of Snap in a research note on Tuesday, July 16th. They set a "peer perform" rating on the stock. Cantor Fitzgerald initiated coverage on shares of Snap in a research note on Thursday, September 5th. They issued a "neutral" rating and a $8.00 price target for the company. Finally, Truist Financial lowered their price target on shares of Snap from $16.00 to $13.00 and set a "hold" rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $13.87.

Snap Stock Performance

Shares of NYSE:SNAP traded up $0.41 during trading on Thursday, reaching $10.08. The company had a trading volume of 36,996,696 shares, compared to its average volume of 27,498,229. Snap Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $17.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The stock's fifty day moving average price is $10.70 and its 200 day moving average price is $12.81. The firm has a market capitalization of $16.73 billion, a price-to-earnings ratio of -12.44 and a beta of 1.00.

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

Insider Transactions at Snap

In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $16.56, for a total transaction of $298,080.00. Following the completion of the transaction, the general counsel now directly owns 481,908 shares of the company's stock, valued at approximately $7,980,396.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Snap news, General Counsel Michael J. O'sullivan sold 18,000 shares of the business's stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.56, for a total transaction of $298,080.00. Following the sale, the general counsel now directly owns 481,908 shares in the company, valued at approximately $7,980,396.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the transaction, the chief technology officer now owns 58,553,813 shares of the company's stock, valued at approximately $508,832,634.97. The disclosure for this sale can be found here. Insiders have sold a total of 1,511,540 shares of company stock worth $13,569,906 over the last ninety days. 22.68% of the stock is currently owned by company insiders.

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.