TB Alternative Assets Ltd. Has $45.39 Million Stock Position in Snap Inc. (NYSE:SNAP)

TB Alternative Assets Ltd. reduced its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 47.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,214,512 shares of the company's stock after selling 3,767,335 shares during the period. Snap comprises 11.7% of TB Alternative Assets Ltd.'s investment portfolio, making the stock its 2nd biggest position. TB Alternative Assets Ltd. owned approximately 0.25% of Snap worth $45,390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Marshall Wace LLP lifted its holdings in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company's stock valued at $243,629,000 after purchasing an additional 12,533,653 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company's stock valued at $66,462,000 after buying an additional 2,386,519 shares in the last quarter. Discovery Capital Management LLC CT bought a new position in Snap in the 2nd quarter worth approximately $22,591,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Snap by 49.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company's stock worth $41,842,000 after buying an additional 1,297,348 shares during the period. Finally, Groupama Asset Managment purchased a new position in Snap in the 3rd quarter valued at approximately $13,032,000. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap Trading Down 2.7 %

NYSE SNAP traded down $0.29 during trading on Tuesday, hitting $10.57. 33,916,520 shares of the company's stock traded hands, compared to its average volume of 32,551,336. The stock has a fifty day moving average of $11.51 and a two-hundred day moving average of $11.26. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.50. The firm has a market cap of $17.72 billion, a P/E ratio of -18.22 and a beta of 0.98. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company posted ($0.21) EPS. Snap's revenue for the quarter was up 15.4% on a year-over-year basis. As a group, sell-side analysts expect that Snap Inc. will post -0.39 EPS for the current year.

Insider Activity

In other news, 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 sale, the senior vice president now directly owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. This trade represents a 3.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the transaction, the chief technology officer now owns 57,210,989 shares of the company's stock, valued at approximately $715,137,362.50. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,451,618 shares of company stock valued at $17,560,157.

Wall Street Analyst Weigh In

SNAP has been the topic of several recent research reports. Needham & Company LLC restated a "buy" rating and set a $640.00 target price on shares of Snap in a research report on Thursday, December 5th. UBS Group raised their target price on Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their target price on Snap from $12.00 to $13.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. Evercore ISI increased their price target on shares of Snap from $12.00 to $15.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. Finally, JMP Securities restated a "market outperform" rating and issued a $16.00 price objective on shares of Snap in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $36.99.

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.