Snap Inc. (NYSE:SNAP) Stake Increased by Versor Investments LP

Versor Investments LP raised its stake in shares of Snap Inc. (NYSE:SNAP) by 252.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,200 shares of the company’s stock after acquiring an additional 88,200 shares during the quarter. Versor Investments LP’s holdings in Snap were worth $1,327,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Snap by 62.4% in the third 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after buying an additional 1,297,348 shares during the last quarter. Groupama Asset Managment acquired a new position in Snap during the 3rd quarter valued at about $13,032,000. Assenagon Asset Management S.A. boosted its position in shares of Snap by 51.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock worth $33,244,000 after buying an additional 1,050,501 shares during the period. Finally, Senvest Management LLC bought a new position in shares of Snap in the third quarter worth $10,064,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $11.89, for a total transaction of $214,020.00. Following the sale, the general counsel now directly owns 464,009 shares in the company, valued at $5,517,067.01. This represents a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rebecca Morrow sold 32,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $12.42, for a total value of $397,440.00. Following the completion of the sale, the chief accounting officer now owns 433,064 shares of the company’s stock, valued at approximately $5,378,654.88. This trade represents a 6.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 499,471 shares of company stock worth $5,608,926 in the last 90 days. 22.68% of the stock is owned by company insiders.

Snap Trading Down 2.5 %

Shares of SNAP stock opened at $10.15 on Thursday. 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 firm has a fifty day moving average of $11.14 and a 200-day moving average of $10.79. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.33. The stock has a market cap of $17.21 billion, a price-to-earnings ratio of -24.15 and a beta of 0.99.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, equities research analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America boosted their price objective on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. decreased their target price on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, February 5th. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 target price on shares of Snap in a research note on Monday, January 27th. Susquehanna increased their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Snap in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.87.

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.