EULAV Asset Management Acquires 285,000 Shares of Snap Inc. (NYSE:SNAP)

EULAV Asset Management raised its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 47.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 890,000 shares of the company's stock after acquiring an additional 285,000 shares during the period. EULAV Asset Management owned about 0.05% of Snap worth $9,523,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Snap during the third quarter worth $29,000. Paladin Wealth LLC acquired a new position in Snap during the third quarter worth $30,000. Advisors Asset Management Inc. lifted its stake in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock valued at $30,000 after buying an additional 1,632 shares in the last quarter. Hollencrest Capital Management acquired a new position in shares of Snap during the second quarter valued at about $33,000. Finally, Blue Trust Inc. lifted 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 acquiring an additional 1,682 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap Stock Up 0.9 %

Shares of SNAP stock traded up $0.09 during midday trading on Wednesday, reaching $10.60. 17,604,238 shares of the stock were exchanged, compared to its average volume of 27,750,627. The company's 50 day moving average is $10.79 and its two-hundred day moving average is $12.55. The firm has a market cap of $17.78 billion, a PE ratio of -18.28 and a beta of 0.99. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.90.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the previous year, the business posted ($0.21) EPS. Snap's revenue was up 15.4% compared to the same quarter last year. On average, equities research analysts predict that Snap Inc. will post -0.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $16.00 price target on shares of Snap in a report on Wednesday, October 30th. Barclays dropped their price objective on shares of Snap from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. Citigroup cut their price target on Snap from $16.00 to $11.00 and set a "neutral" rating for the company in a report on Monday, August 12th. Benchmark reissued a "hold" rating on shares of Snap in a report on Friday, October 25th. Finally, Evercore ISI boosted their price objective on shares of Snap from $12.00 to $15.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Snap has a consensus rating of "Hold" and a consensus target price of $14.31.

Insider Activity

In other Snap news, Director Joanna Coles sold 6,434 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the transaction, the director now owns 54,761 shares of the company's stock, valued at $657,132. This represents a 10.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Young sold 112,020 shares of Snap stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. The trade was a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,356,709 shares of company stock valued at $16,088,487 over the last three months.

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.