Caprock Group LLC Takes $784,000 Position in Snap Inc. $SNAP

Caprock Group LLC purchased a new position in Snap Inc. (NYSE:SNAP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 109,775 shares of the company’s stock, valued at approximately $784,000.

A number of other large investors have also added to or reduced their stakes in SNAP. SG Americas Securities LLC raised its position in shares of Snap by 4,603.7% in the second quarter. SG Americas Securities LLC now owns 3,006,711 shares of the company’s stock valued at $26,128,000 after purchasing an additional 2,942,789 shares during the period. Jump Financial LLC bought a new stake in Snap during the 2nd quarter valued at $10,330,000. PDT Partners LLC raised its holdings in Snap by 815.3% during the 2nd quarter. PDT Partners LLC now owns 1,162,409 shares of the company’s stock valued at $10,101,000 after acquiring an additional 1,035,409 shares during the period. Nikko Asset Management Americas Inc. lifted its position in shares of Snap by 94.1% during the second quarter. Nikko Asset Management Americas Inc. now owns 2,107,288 shares of the company’s stock worth $18,312,000 after acquiring an additional 1,021,677 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Snap by 31.7% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,208,697 shares of the company’s stock valued at $36,574,000 after purchasing an additional 1,013,757 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

SNAP has been the subject of several recent analyst reports. New Street Research cut shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 28th. BMO Capital Markets upped their price target on shares of Snap from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. The Goldman Sachs Group dropped their price objective on Snap from $9.50 to $8.50 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. Morgan Stanley upped their target price on Snap from $8.50 to $9.50 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $8.00 target price on shares of Snap in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.48.

Insider Activity

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $5.36, for a total transaction of $5,360,000.00. Following the completion of the transaction, the chief technology officer owned 49,313,775 shares of the company’s stock, valued at approximately $264,321,834. This represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 3,783 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $7.34, for a total value of $27,767.22. Following the sale, the chief accounting officer owned 483,181 shares of the company’s stock, valued at approximately $3,546,548.54. The trade was a 0.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,121,108 shares of company stock valued at $11,527,802.

Snap Stock Performance

NYSE:SNAP opened at $4.85 on Tuesday. The firm’s fifty day simple moving average is $7.25 and its 200-day simple moving average is $7.61. The company has a quick ratio of 3.56, a current ratio of 3.56 and a debt-to-equity ratio of 1.53. The stock has a market cap of $8.18 billion, a PE ratio of -17.94 and a beta of 0.83. Snap Inc. has a fifty-two week low of $4.72 and a fifty-two week high of $11.20.

Snap (NYSE:SNAP) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.12). The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 earnings per share. Analysts expect that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.