Versor Investments LP increased its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 252.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,200 shares of the company's stock after buying an additional 88,200 shares during the period. Versor Investments LP's holdings in Snap were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company's stock worth $66,462,000 after buying an additional 2,386,519 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Snap during the third quarter worth about $1,345,000. Invenomic Capital Management LP purchased a new stake in Snap during the third quarter worth about $2,349,000. Jacobs Levy Equity Management Inc. raised its position in Snap by 49.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company's stock worth $28,245,000 after acquiring an additional 879,212 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in Snap during the third quarter worth about $828,000. Hedge funds and other institutional investors own 47.52% of the company's stock.
Snap Trading Up 2.7 %
SNAP traded up $0.27 during trading on Friday, hitting $10.26. 21,440,214 shares of the company's stock were exchanged, compared to its average volume of 29,646,766. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33. The stock has a 50 day moving average price of $11.09 and a 200 day moving average price of $10.80. The firm has a market cap of $17.40 billion, a P/E ratio of -24.42 and a beta of 0.99.
Snap (NYSE:SNAP - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.
Insider Activity
In related news, CAO Rebecca Morrow sold 2,812 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $32,169.28. Following the sale, the chief accounting officer now owns 430,252 shares of the company's stock, valued at $4,922,082.88. This trade represents a 0.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael J. O'sullivan sold 18,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the sale, the general counsel now directly owns 498,498 shares in the company, valued at approximately $5,403,718.32. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 481,471 shares of company stock worth $5,394,906. 22.68% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. JMP Securities restated a "market outperform" rating and set a $16.00 target price on shares of Snap in a research report on Monday, January 27th. BMO Capital Markets restated an "outperform" rating and set a $16.00 target price (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Citigroup lifted their target price on shares of Snap from $13.00 to $13.50 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Barclays restated an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. Finally, Bank of America boosted their price objective on shares of Snap from $14.00 to $14.50 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $36.87.
View Our Latest Stock Report on Snap
Snap Company Profile
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Free Report)
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.
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