Caxton Associates LP Buys Shares of 7,384 Snap Inc. (NYSE:SNAP)

Caxton Associates LP bought a new stake in Snap Inc. (NYSE:SNAP) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,384 shares of the company’s stock, valued at approximately $386,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital Asset Advisory Services LLC acquired a new stake in Snap in the fourth quarter valued at $25,000. Private Capital Group LLC raised its stake in shares of Snap by 200.0% during the 1st quarter. Private Capital Group LLC now owns 540 shares of the company’s stock worth $28,000 after buying an additional 360 shares during the last quarter. Howe & Rusling Inc. acquired a new position in shares of Snap during the 1st quarter worth $29,000. First Manhattan Co. raised its stake in shares of Snap by 66.7% during the 1st quarter. First Manhattan Co. now owns 625 shares of the company’s stock worth $32,000 after buying an additional 250 shares during the last quarter. Finally, Ameritas Investment Company LLC acquired a new position in shares of Snap during the 1st quarter worth $36,000. 52.74% of the stock is owned by institutional investors.

Several research analysts have recently issued reports on SNAP shares. lifted their price target on Snap from $40.00 to $47.00 in a research note on Tuesday, May 4th. Barclays boosted their target price on shares of Snap from $66.00 to $75.00 in a research note on Friday, April 23rd. KeyCorp cut their target price on shares of Snap from $87.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, April 23rd. Wolfe Research started coverage on shares of Snap in a research note on Wednesday, March 31st. They issued an “outperform” rating and a $65.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Snap from $74.00 to $72.00 and set a “buy” rating for the company in a research note on Friday, April 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $68.86.

SNAP stock opened at $63.39 on Thursday. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 1.32. Snap Inc. has a 12-month low of $20.61 and a 12-month high of $73.59. The firm’s 50 day moving average price is $62.13.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, April 22nd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.02. The business had revenue of $769.58 million for the quarter, compared to analyst estimates of $739.61 million. Snap had a negative return on equity of 43.12% and a negative net margin of 32.90%. The business’s revenue was up 66.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.08) EPS. Sell-side analysts expect that Snap Inc. will post -0.48 earnings per share for the current year.

In related news, CFO Derek Andersen sold 13,406 shares of the company’s stock in a transaction on Monday, May 17th. The stock was sold at an average price of $52.87, for a total transaction of $708,775.22. Following the completion of the transaction, the chief financial officer now directly owns 1,265,218 shares in the company, valued at approximately $66,892,075.66. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Robert C. Murphy sold 950,000 shares of the company’s stock in a transaction on Monday, April 26th. The stock was sold at an average price of $59.52, for a total value of $56,544,000.00. Following the transaction, the chief technology officer now owns 80,056,819 shares of the company’s stock, valued at $4,764,981,866.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,207,758 shares of company stock worth $261,476,395.

About Snap

Snap, Inc engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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