SRS Investment Management LLC Boosts Stake in Snap Inc. (NYSE:SNAP)

SRS Investment Management LLC boosted its stake in Snap Inc. (NYSE:SNAP - Free Report) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,723,115 shares of the company's stock after buying an additional 1,001,632 shares during the quarter. Snap makes up approximately 11.3% of SRS Investment Management LLC's portfolio, making the stock its 3rd largest holding. SRS Investment Management LLC owned approximately 4.40% of Snap worth $793,998,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Checchi Capital Advisers LLC raised its holdings in Snap by 3.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company's stock valued at $335,000 after acquiring an additional 901 shares during the last quarter. HCR Wealth Advisors increased its holdings in shares of Snap by 3.9% in the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company's stock valued at $269,000 after purchasing an additional 934 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Snap by 3.1% in the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after purchasing an additional 1,055 shares during the last quarter. Trajan Wealth LLC lifted its position in Snap by 5.9% during the fourth quarter. Trajan Wealth LLC now owns 20,191 shares of the company's stock worth $217,000 after buying an additional 1,132 shares in the last quarter. Finally, Gradient Investments LLC grew its holdings in Snap by 0.9% in the 4th quarter. Gradient Investments LLC now owns 142,144 shares of the company's stock valued at $1,531,000 after buying an additional 1,310 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Performance

SNAP stock traded up $0.19 on Friday, reaching $8.52. 32,795,993 shares of the company were exchanged, compared to its average volume of 27,892,831. The firm has a market capitalization of $14.45 billion, a PE ratio of -20.29 and a beta of 0.92. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $17.33. The stock's fifty day moving average price is $8.90 and its 200 day moving average price is $10.48. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, research analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SNAP. JPMorgan Chase & Co. lowered their price target on shares of Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their target price on shares of Snap from $13.50 to $9.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Bank of America cut their price target on shares of Snap from $14.50 to $10.50 and set a "neutral" rating for the company in a report on Wednesday, April 9th. JMP Securities reiterated a "market outperform" rating and issued a $16.00 price objective on shares of Snap in a report on Monday, January 27th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $16.00 target price (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $35.49.

Insider Transactions at Snap

In related news, CAO Rebecca Morrow sold 8,837 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the sale, the chief accounting officer now owns 429,892 shares of the company's stock, valued at $4,660,029.28. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. O'sullivan sold 14,183 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $125,235.89. Following the completion of the transaction, the general counsel now directly owns 2,256,101 shares of the company's stock, valued at $19,921,371.83. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,356,523 shares of company stock valued at $12,710,077. 22.68% of the stock is owned by corporate insiders.

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.