Assenagon Asset Management S.A. Decreases Stake in Snap Inc. (NYSE:SNAP)

Assenagon Asset Management S.A. cut its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 27.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,036,240 shares of the company's stock after selling 788,114 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of Snap worth $21,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNAP. International Assets Investment Management LLC boosted its position in Snap by 3,391.5% during the 3rd quarter. International Assets Investment Management LLC now owns 24,685 shares of the company's stock valued at $264,000 after acquiring an additional 23,978 shares in the last quarter. TB Alternative Assets Ltd. lifted its stake in shares of Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company's stock worth $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. DMC Group LLC boosted its position in Snap by 16.4% during the third quarter. DMC Group LLC now owns 18,132 shares of the company's stock valued at $194,000 after purchasing an additional 2,549 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Snap in the third quarter valued at about $29,000. Finally, Avaii Wealth Management LLC raised its holdings in Snap by 271.9% in the third quarter. Avaii Wealth Management LLC now owns 43,037 shares of the company's stock worth $461,000 after purchasing an additional 31,465 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap Stock Performance

Shares of NYSE:SNAP traded up $0.18 during trading on Friday, hitting $10.45. 18,672,513 shares of the stock traded hands, compared to its average volume of 26,830,061. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The company has a fifty day moving average price of $9.94 and a two-hundred day moving average price of $12.68. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The company has a market cap of $17.15 billion, a price-to-earnings ratio of -12.90 and a beta of 1.01.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.25 billion. As a group, equities analysts predict that Snap Inc. will post -0.47 EPS for the current year.

Insider Buying and Selling

In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the business's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $10.81, for a total value of $194,580.00. Following the completion of the sale, the general counsel now directly owns 489,058 shares in the company, valued at $5,286,716.98. The trade was 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 link. In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of Snap stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $10.81, for a total value of $194,580.00. Following the sale, the general counsel now owns 489,058 shares in the company, valued at $5,286,716.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Eric Young sold 114,097 shares of the company's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the transaction, the senior vice president now owns 3,041,723 shares of the company's stock, valued at approximately $27,710,096.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,508,617 shares of company stock valued at $13,422,930. 22.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SNAP shares. Wolfe Research started coverage on shares of Snap in a report on Tuesday, July 16th. They issued a "peer perform" rating on the stock. HSBC lowered shares of Snap from a "buy" rating to a "hold" rating in a report on Friday, August 2nd. Stifel Nicolaus decreased their price objective on Snap from $13.00 to $11.00 and set a "hold" rating for the company in a report on Monday, October 14th. Susquehanna lowered their price objective on Snap from $15.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. Finally, B. Riley started coverage on Snap in a research report on Friday, September 20th. They set a "neutral" rating and a $11.00 target price on the stock. One investment analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $13.89.

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.