SG Americas Securities LLC Acquires 648,240 Shares of Snap Inc. $SNAP

SG Americas Securities LLC grew its holdings in Snap Inc. (NYSE:SNAP) by 26.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,134,605 shares of the company’s stock after buying an additional 648,240 shares during the period. SG Americas Securities LLC’s holdings in Snap were worth $25,296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp increased its holdings in shares of Snap by 5.1% during the 3rd quarter. Mackenzie Financial Corp now owns 27,638 shares of the company’s stock worth $213,000 after acquiring an additional 1,349 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Snap by 0.3% during the 3rd quarter. Alliancebernstein L.P. now owns 414,416 shares of the company’s stock valued at $3,195,000 after purchasing an additional 1,396 shares during the last quarter. Orion Porfolio Solutions LLC boosted its position in Snap by 8.3% during the second quarter. Orion Porfolio Solutions LLC now owns 18,913 shares of the company’s stock worth $164,000 after purchasing an additional 1,451 shares during the period. Allworth Financial LP boosted its position in Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after purchasing an additional 1,581 shares during the period. Finally, Silvant Capital Management LLC increased its holdings in shares of Snap by 11.0% in the third quarter. Silvant Capital Management LLC now owns 16,426 shares of the company’s stock valued at $127,000 after purchasing an additional 1,629 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SNAP has been the topic of several research analyst reports. Stifel Nicolaus set a $5.50 price objective on shares of Snap and gave the company a “hold” rating in a research report on Thursday, February 5th. Mizuho reduced their target price on shares of Snap from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Citizens Jmp reiterated a “market perform” rating on shares of Snap in a research note on Thursday, February 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a report on Wednesday, January 21st. Finally, Guggenheim restated a “neutral” rating and set a $6.50 price objective on shares of Snap in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Snap has a consensus rating of “Hold” and a consensus target price of $8.17.

Insider Transactions at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $5.36, for a total value of $5,360,000.00. Following the completion of the sale, the chief technology officer directly owned 49,313,775 shares in the company, valued at approximately $264,321,834. The trade was a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Derek Andersen sold 92,956 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $4.59, for a total value of $426,668.04. Following the completion of the sale, the chief financial officer owned 3,799,661 shares of the company’s stock, valued at approximately $17,440,443.99. This trade represents a 2.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,570,641 shares of company stock worth $13,436,343. Company insiders own 22.68% of the company’s stock.

Snap Stock Down 11.0%

SNAP opened at $4.00 on Friday. The stock has a fifty day moving average of $5.54 and a 200-day moving average of $7.10. The company has a market capitalization of $6.75 billion, a P/E ratio of -14.80 and a beta of 0.83. Snap Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $10.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.56 and a current ratio of 3.56.

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