Snap Inc. (NYSE:SNAP) is TB Alternative Assets Ltd.'s Largest Position

TB Alternative Assets Ltd. boosted its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 105.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,981,847 shares of the company's stock after purchasing an additional 4,098,847 shares during the period. Snap makes up approximately 20.3% of TB Alternative Assets Ltd.'s portfolio, making the stock its biggest holding. TB Alternative Assets Ltd. owned approximately 0.49% of Snap worth $85,406,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Snap during the 3rd quarter valued at approximately $29,000. Paladin Wealth LLC acquired a new stake in shares of Snap in the third quarter valued at approximately $30,000. Hollencrest Capital Management acquired a new position in Snap during the 2nd quarter worth $33,000. Blue Trust Inc. grew its position in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock valued at $36,000 after buying an additional 1,682 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of Snap in the 2nd quarter worth $40,000. Institutional investors and hedge funds own 47.52% of the company's stock.

Insider Transactions at Snap

In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the firm's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total value of $239,040.00. Following the transaction, the general counsel now owns 463,908 shares of the company's stock, valued at $6,160,698.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Michael J. O'sullivan sold 18,000 shares of the company's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total transaction of $239,040.00. Following the sale, the general counsel now owns 463,908 shares of the company's stock, valued at $6,160,698.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca Morrow sold 8,923 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.10, for a total value of $81,199.30. Following the transaction, the chief accounting officer now directly owns 472,405 shares in the company, valued at approximately $4,298,885.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,510,352 shares of company stock worth $13,446,353 in the last 90 days. 22.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Citigroup reduced their target price on Snap from $16.00 to $11.00 and set a "neutral" rating for the company in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. B. Riley assumed coverage on Snap in a research note on Friday, September 20th. They issued a "neutral" rating and a $11.00 price objective on the stock. Stifel Nicolaus cut their target price on Snap from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Monday, October 14th. Finally, Truist Financial dropped their target price on shares of Snap from $16.00 to $13.00 and set a "hold" rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Snap currently has an average rating of "Hold" and an average target price of $13.77.

Snap Trading Down 1.5 %

Shares of SNAP stock traded down $0.16 during trading hours on Monday, reaching $10.33. The company's stock had a trading volume of 17,229,332 shares, compared to its average volume of 26,878,119. The stock has a market capitalization of $17.14 billion, a P/E ratio of -14.35 and a beta of 1.01. The firm's fifty day simple moving average is $9.83 and its 200 day simple moving average is $12.72. Snap Inc. has a one year low of $8.29 and a one year high of $17.90. 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 announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.02. The business 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%. Equities research analysts expect that Snap Inc. will post -0.47 EPS for the current year.

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.