Perpetual Ltd Decreases Stock Holdings in Snap Inc. (NYSE:SNAP)

Perpetual Ltd decreased its holdings in Snap Inc. (NYSE:SNAP) by 15.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,782 shares of the company’s stock after selling 4,474 shares during the quarter. Perpetual Ltd’s holdings in Snap were worth $256,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Snap in the 3rd quarter worth about $29,000. Paladin Wealth LLC purchased a new position in Snap in the 3rd quarter worth about $30,000. Advisors Asset Management Inc. raised its position in Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Snap during the 3rd quarter valued at about $41,000. Finally, Quest Partners LLC purchased a new stake in shares of Snap during the 3rd quarter valued at about $81,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Stock Up 1.0 %

NYSE SNAP opened at $10.57 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market capitalization of $17.72 billion, a P/E ratio of -18.22 and a beta of 0.98. Snap Inc. has a one year low of $8.29 and a one year high of $17.50. The stock has a 50 day moving average price of $11.48 and a 200-day moving average price of $11.22.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) EPS. As a group, equities analysts predict that Snap Inc. will post -0.39 EPS for the current fiscal year.

Insider Activity

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the sale, the chief technology officer now directly owns 57,210,989 shares in the company, valued at $715,137,362.50. This trade represents a 1.72 % 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, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total value of $195,120.00. Following the completion of the sale, the general counsel now owns 498,498 shares of the company’s stock, valued at approximately $5,403,718.32. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,451,618 shares of company stock worth $17,560,157. 22.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SNAP shares. Truist Financial upped their price target on shares of Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Loop Capital upped their price target on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Citigroup upped their price target on shares of Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price target on shares of Snap in a research report on Friday, January 3rd. Finally, Guggenheim reaffirmed a “buy” rating and set a $12.11 price target on shares of Snap in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap presently has an average rating of “Hold” and an average target price of $36.99.

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.