Trexquant Investment LP boosted its position in Snap Inc. (NYSE:SNAP - Free Report) by 90.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,164,286 shares of the company's stock after purchasing an additional 553,504 shares during the period. Trexquant Investment LP owned about 0.07% of Snap worth $12,539,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invenomic Capital Management LP purchased a new stake in Snap in the 3rd quarter valued at approximately $2,349,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Snap by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock valued at $71,095,000 after acquiring an additional 389,812 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Snap by 49.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company's stock worth $28,245,000 after purchasing an additional 879,212 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in Snap in the 4th quarter valued at about $289,000. Finally, Holocene Advisors LP purchased a new position in Snap in the 3rd quarter valued at about $3,436,000. 47.52% of the stock is owned by institutional investors and hedge funds.
Snap Stock Up 0.4 %
Shares of NYSE SNAP traded up $0.04 during midday trading on Friday, reaching $8.06. 48,608,525 shares of the company's stock were exchanged, compared to its average volume of 27,544,906. The stock has a market capitalization of $13.66 billion, a PE ratio of -19.18 and a beta of 0.92. Snap Inc. has a 52-week low of $7.66 and a 52-week high of $17.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The business's fifty day moving average price is $9.95 and its two-hundred day moving average price is $10.77.
Snap (NYSE:SNAP - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Analysts forecast that Snap Inc. will post -0.3 EPS for the current year.
Insider Buying and Selling
In related news, General Counsel Michael J. O'sullivan sold 24,000 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $8.60, for a total transaction of $206,400.00. Following the transaction, the general counsel now directly owns 507,660 shares in the company, valued at $4,365,876. This trade represents a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Derek Andersen sold 61,334 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $664,860.56. Following the sale, the chief financial officer now owns 3,564,235 shares of the company's stock, valued at approximately $38,636,307.40. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,356,523 shares of company stock worth $12,710,077. Corporate insiders own 22.68% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on SNAP shares. Citizens Jmp upgraded shares of Snap from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Bank of America boosted their price target on Snap from $14.00 to $14.50 and gave the company a "neutral" rating in a report on Wednesday, February 5th. JMP Securities restated a "market outperform" rating and set a $16.00 price objective on shares of Snap in a report on Monday, January 27th. Susquehanna upped their target price on Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company reduced their target price on Snap from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $36.80.
Read Our Latest Research Report on SNAP
About Snap
(
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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