Profund Advisors LLC Trims Stake in Snap Inc (NYSE:SNAP)

Profund Advisors LLC reduced its position in shares of Snap Inc (NYSE:SNAP) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 205,773 shares of the company’s stock after selling 14,765 shares during the quarter. Profund Advisors LLC’s holdings in Snap were worth $3,360,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its position in shares of Snap by 408.3% during the 4th quarter. Renaissance Technologies LLC now owns 9,951,900 shares of the company’s stock valued at $162,515,000 after purchasing an additional 7,994,000 shares during the last quarter. FIL Ltd boosted its position in shares of Snap by 67.6% during the 4th quarter. FIL Ltd now owns 14,327,572 shares of the company’s stock valued at $233,969,000 after acquiring an additional 5,778,674 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Snap during the 3rd quarter valued at about $51,744,000. Millennium Management LLC boosted its position in shares of Snap by 219.1% during the 3rd quarter. Millennium Management LLC now owns 4,148,898 shares of the company’s stock valued at $65,552,000 after acquiring an additional 2,848,867 shares during the last quarter. Finally, AO Asset Management LP bought a new stake in shares of Snap during the 4th quarter valued at about $42,311,000. Institutional investors own 36.32% of the company’s stock.

A number of analysts have recently issued reports on the company. Aegis assumed coverage on Snap in a research report on Wednesday, December 11th. They set a “buy” rating and a $24.00 price target for the company. Pivotal Research boosted their target price on Snap from $20.50 to $24.50 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. They noted that the move was a valuation call. Royal Bank of Canada restated a “buy” rating and issued a $19.00 price target on shares of Snap in a research note on Wednesday, March 18th. Sanford C. Bernstein started coverage on Snap in a research report on Thursday, January 9th. They set an “outperform” rating and a $20.00 price objective for the company. Finally, Argus upgraded Snap from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Thursday, March 12th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $18.59.

In other news, CEO Evan Spiegel sold 369,308 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $18.00, for a total value of $6,647,544.00. Following the completion of the sale, the chief executive officer now owns 62,562,271 shares of the company’s stock, valued at approximately $1,126,120,878. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stanley J. Meresman sold 27,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $17.62, for a total transaction of $475,740.00. Following the completion of the sale, the director now directly owns 154,180 shares of the company’s stock, valued at approximately $2,716,651.60. The disclosure for this sale can be found here. Insiders have sold a total of 5,152,218 shares of company stock worth $63,847,226 in the last ninety days.

Shares of SNAP traded up $0.72 during mid-day trading on Thursday, reaching $11.95. The company had a trading volume of 19,971,545 shares, compared to its average volume of 30,746,553. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of -15.93 and a beta of 1.31. The firm has a fifty day simple moving average of $14.07 and a 200-day simple moving average of $15.36. Snap Inc has a fifty-two week low of $7.89 and a fifty-two week high of $19.75. The company has a current ratio of 5.29, a quick ratio of 5.29 and a debt-to-equity ratio of 0.53.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, February 4th. The company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The business had revenue of $560.90 million for the quarter, compared to analyst estimates of $561.87 million. Snap had a negative net margin of 60.25% and a negative return on equity of 46.63%. The business’s quarterly revenue was up 43.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) EPS. As a group, equities analysts predict that Snap Inc will post -0.54 EPS for the current fiscal year.

About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

Featured Story: What impact do institutional investors have on markets?

Institutional Ownership by Quarter for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.