Snap Inc. (NYSE:SNAP) Shares Bought by AM Squared Ltd

AM Squared Ltd grew its position in shares of Snap Inc. (NYSE:SNAP) by 45.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,700 shares of the company’s stock after purchasing an additional 8,400 shares during the period. AM Squared Ltd’s holdings in Snap were worth $299,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SNAP. Acadian Asset Management LLC boosted its stake in shares of Snap by 72.6% during the 1st quarter. Acadian Asset Management LLC now owns 8,456 shares of the company’s stock worth $304,000 after purchasing an additional 3,556 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Snap by 28.6% during the 1st quarter. Raymond James Trust N.A. now owns 8,708 shares of the company’s stock worth $313,000 after purchasing an additional 1,936 shares during the last quarter. Cibc World Market Inc. boosted its stake in shares of Snap by 9.4% during the 1st quarter. Cibc World Market Inc. now owns 23,977 shares of the company’s stock worth $863,000 after purchasing an additional 2,061 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Snap by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 786,417 shares of the company’s stock worth $28,305,000 after acquiring an additional 5,182 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Snap during the 1st quarter worth about $3,216,000. 44.37% of the stock is owned by institutional investors and hedge funds.

Snap Stock Up 1.5 %

SNAP stock opened at $9.58 on Wednesday. Snap Inc. has a twelve month low of $7.33 and a twelve month high of $13.89. The company has a current ratio of 5.16, a quick ratio of 5.16 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $15.55 billion, a P/E ratio of -11.27 and a beta of 1.27. The firm has a 50 day simple moving average of $10.84 and a 200-day simple moving average of $10.50.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, July 25th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Snap had a negative net margin of 30.19% and a negative return on equity of 36.83%. On average, equities research analysts predict that Snap Inc. will post -0.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SNAP. The Goldman Sachs Group increased their price objective on shares of Snap from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, July 17th. Stifel Nicolaus increased their price objective on shares of Snap from $8.00 to $13.00 in a report on Friday, July 21st. Credit Suisse Group increased their price objective on shares of Snap from $11.00 to $16.00 and gave the stock an “outperform” rating in a report on Monday, July 17th. Barclays increased their price objective on shares of Snap from $11.00 to $15.00 in a report on Wednesday, July 26th. Finally, Loop Capital cut their price objective on shares of Snap from $16.00 to $14.00 in a report on Wednesday, June 7th. Three research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.41.

Insiders Place Their Bets

In other Snap news, SVP Eric Young sold 95,303 shares of Snap stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $9.24, for a total value of $880,599.72. Following the completion of the transaction, the senior vice president now owns 3,648,859 shares of the company’s stock, valued at $33,715,457.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Snap news, SVP Eric Young sold 95,303 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $9.24, for a total value of $880,599.72. Following the sale, the senior vice president now directly owns 3,648,859 shares in the company, valued at $33,715,457.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Derek Andersen sold 4,952 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $13.16, for a total value of $65,168.32. Following the completion of the sale, the chief financial officer now owns 2,412,393 shares in the company, valued at $31,747,091.88. The disclosure for this sale can be found here. Insiders sold a total of 1,613,627 shares of company stock valued at $16,744,101 over the last 90 days. 22.68% of the stock is owned by company insiders.

About Snap

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.