Empowered Funds LLC bought a new stake in shares of Snap Inc. (NYSE:SNAP – Get Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,107 shares of the company’s stock, valued at approximately $125,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Snap by 21.6% during the third quarter. Vanguard Group Inc. now owns 90,476,082 shares of the company’s stock valued at $888,475,000 after purchasing an additional 16,046,220 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Snap by 55.7% during the third quarter. Two Sigma Advisers LP now owns 21,895,177 shares of the company’s stock valued at $215,011,000 after purchasing an additional 7,831,100 shares during the last quarter. Two Sigma Investments LP lifted its stake in Snap by 15.4% during the fourth quarter. Two Sigma Investments LP now owns 18,618,123 shares of the company’s stock valued at $166,632,000 after purchasing an additional 2,478,397 shares during the last quarter. Wellington Management Group LLP lifted its stake in Snap by 95.8% during the first quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock valued at $641,028,000 after purchasing an additional 8,712,380 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Snap by 25.0% during the fourth quarter. Renaissance Technologies LLC now owns 10,774,200 shares of the company’s stock valued at $96,429,000 after purchasing an additional 2,153,896 shares during the last quarter. 41.79% of the stock is owned by institutional investors and hedge funds.
Snap Stock Performance
Shares of SNAP opened at $10.63 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 4.71 and a quick ratio of 4.71. The company has a market capitalization of $17.03 billion, a PE ratio of -12.22 and a beta of 1.20. The company’s fifty day moving average price is $9.79 and its 200 day moving average price is $10.04. Snap Inc. has a one year low of $7.33 and a one year high of $16.55.
Snap (NYSE:SNAP – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.04. Snap had a negative net margin of 30.89% and a negative return on equity of 33.79%. The company had revenue of $988.61 million for the quarter, compared to analyst estimates of $1.01 billion. As a group, analysts expect that Snap Inc. will post -0.76 earnings per share for the current year.
Analyst Ratings Changes
Several equities research analysts recently commented on SNAP shares. Wells Fargo & Company assumed coverage on shares of Snap in a research report on Wednesday, June 7th. They issued an “equal weight” rating and a $10.00 price target for the company. Piper Sandler decreased their price objective on shares of Snap from $9.00 to $8.00 in a research note on Friday, April 28th. TD Cowen raised their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Barclays decreased their price objective on shares of Snap from $15.00 to $11.00 in a research note on Friday, April 28th. Finally, Truist Financial decreased their price objective on shares of Snap from $8.00 to $7.00 in a research note on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, thirty have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap has an average rating of “Hold” and an average target price of $10.27.
Insider Activity
In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $11.13, for a total transaction of $144,690.00. Following the sale, the general counsel now directly owns 478,330 shares in the company, valued at approximately $5,323,812.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Snap news, CAO Rebecca Morrow sold 5,617 shares of the business’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $10.69, for a total value of $60,045.73. Following the transaction, the chief accounting officer now directly owns 252,497 shares in the company, valued at $2,699,192.93. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $11.13, for a total transaction of $144,690.00. Following the completion of the transaction, the general counsel now directly owns 478,330 shares of the company’s stock, valued at $5,323,812.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,430,234 shares of company stock worth $14,181,320.
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.