Gotham Asset Management LLC Takes Position in Snap Inc. (NYSE:SNAP)

Gotham Asset Management LLC acquired a new stake in shares of Snap Inc. (NYSE:SNAP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 31,442 shares of the company’s stock, valued at approximately $339,000.

A number of other hedge funds have also recently modified their holdings of SNAP. HB Wealth Management LLC grew its position in shares of Snap by 7.7% during the 4th quarter. HB Wealth Management LLC now owns 21,187 shares of the company’s stock valued at $228,000 after acquiring an additional 1,513 shares during the period. Gradient Investments LLC grew its position in shares of Snap by 0.9% during the 4th quarter. Gradient Investments LLC now owns 142,144 shares of the company’s stock valued at $1,531,000 after acquiring an additional 1,310 shares during the period. Blue Trust Inc. grew its position in shares of Snap by 136.3% during the 4th quarter. Blue Trust Inc. now owns 4,529 shares of the company’s stock valued at $48,000 after acquiring an additional 2,612 shares during the period. KBC Group NV grew its position in shares of Snap by 1.7% during the 4th quarter. KBC Group NV now owns 142,208 shares of the company’s stock valued at $1,532,000 after acquiring an additional 2,427 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Snap during the 4th quarter valued at $289,000. Institutional investors own 47.52% of the company’s stock.

Snap Stock Down 1.6%

Shares of NYSE SNAP opened at $8.54 on Wednesday. The firm’s 50-day moving average price is $8.48 and its 200-day moving average price is $10.20. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of -20.33 and a beta of 0.61. Snap Inc. has a 12-month low of $7.08 and a 12-month high of $17.33.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. On average, equities research analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Eric Young sold 117,592 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.59, for a total value of $1,010,115.28. Following the sale, the senior vice president now directly owns 3,348,290 shares of the company’s stock, valued at $28,761,811.10. This represents a 3.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the sale, the chief technology officer now directly owns 55,818,548 shares in the company, valued at $504,599,673.92. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,586,313 shares of company stock valued at $22,190,490 in the last ninety days. 22.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNAP. Wells Fargo & Company cut their price objective on shares of Snap from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $12.00 target price on shares of Snap in a report on Wednesday, April 30th. Guggenheim reaffirmed a “neutral” rating on shares of Snap in a report on Wednesday, April 2nd. Barclays reaffirmed an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. Finally, B. Riley dropped their target price on shares of Snap from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.62.

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.