Snap Inc. $SNAP Holdings Raised by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in shares of Snap Inc. (NYSE:SNAP) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,086 shares of the company’s stock after buying an additional 8,178 shares during the quarter. Teacher Retirement System of Texas’ holdings in Snap were worth $1,426,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. raised its position in Snap by 12.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 26,841 shares of the company’s stock valued at $234,000 after buying an additional 2,918 shares during the period. DAVENPORT & Co LLC increased its position in Snap by 19.7% in the 1st quarter. DAVENPORT & Co LLC now owns 30,400 shares of the company’s stock worth $265,000 after purchasing an additional 5,000 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Snap by 6.6% during the 1st quarter. IFM Investors Pty Ltd now owns 201,960 shares of the company’s stock valued at $1,759,000 after acquiring an additional 12,561 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Snap by 193.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 131,043 shares of the company’s stock valued at $1,141,000 after acquiring an additional 86,441 shares during the last quarter. Finally, Westbourne Investment Advisors Inc. increased its holdings in shares of Snap by 2.7% during the 1st quarter. Westbourne Investment Advisors Inc. now owns 366,513 shares of the company’s stock valued at $3,192,000 after acquiring an additional 9,526 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap Stock Down 4.6%

NYSE:SNAP opened at $7.46 on Wednesday. The stock’s fifty day simple moving average is $7.79 and its 200-day simple moving average is $8.26. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $12.61 billion, a P/E ratio of -23.32 and a beta of 0.89. Snap Inc. has a 12-month low of $6.90 and a 12-month high of $13.28.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) earnings per share. Equities research analysts expect that Snap Inc. will post -0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNAP. JMP Securities reiterated a “market perform” rating on shares of Snap in a research report on Wednesday, August 6th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $7.00 price objective on shares of Snap in a research report on Wednesday, August 6th. Rosenblatt Securities reduced their price objective on Snap from $9.00 to $8.70 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Bank of America reduced their price objective on Snap from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Finally, Piper Sandler reduced their price objective on Snap from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus price target of $34.57.

Insider Transactions at Snap

In other Snap news, CFO Derek Andersen sold 33,871 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $7.56, for a total transaction of $256,064.76. Following the transaction, the chief financial officer owned 3,109,581 shares of the company’s stock, valued at $23,508,432.36. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth Jenkins sold 7,900 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $7.07, for a total value of $55,853.00. Following the transaction, the director directly owned 65,663 shares in the company, valued at approximately $464,237.41. This trade represents a 10.74% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,510,569 shares of company stock valued at $11,541,723.

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.