Snap Inc. $SNAP Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd grew its holdings in Snap Inc. (NYSE:SNAP) by 1,015.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,230,760 shares of the company’s stock after purchasing an additional 1,120,413 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Snap were worth $9,932,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Allworth Financial LP lifted its stake in shares of Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after purchasing an additional 1,581 shares during the last quarter. Oak Harvest Investment Services acquired a new position in shares of Snap in the 4th quarter valued at $26,000. V Square Quantitative Management LLC acquired a new position in shares of Snap in the 4th quarter valued at $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of Snap by 561.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock valued at $29,000 after purchasing an additional 3,071 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Snap in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Ratings Changes

SNAP has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their price target on Snap from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Wells Fargo & Company upped their price target on Snap from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Citigroup reaffirmed a “neutral” rating on shares of Snap in a research note on Monday, May 18th. KeyCorp raised Snap from a “sector weight” rating to an “overweight” rating in a research note on Monday, April 27th. Finally, BMO Capital Markets increased their target price on Snap from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and an average price target of $7.91.

Snap Price Performance

Shares of NYSE SNAP opened at $5.25 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.53 and a current ratio of 3.53. Snap Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $10.41. The firm has a market capitalization of $8.87 billion, a PE ratio of -21.88 and a beta of 1.03. The stock’s 50-day simple moving average is $5.61 and its 200-day simple moving average is $6.16.

Snap (NYSE:SNAP) last issued its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the business posted ($0.08) EPS. Snap’s revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts forecast that Snap Inc. will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other news, CTO Robert C. Murphy sold 343,945 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $5.88, for a total transaction of $2,022,396.60. Following the sale, the chief technology officer owned 4,963,581 shares of the company’s stock, valued at approximately $29,185,856.28. This trade represents a 6.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 16,729 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.60, for a total value of $93,682.40. Following the sale, the chief accounting officer directly owned 512,811 shares in the company, valued at $2,871,741.60. This trade represents a 3.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 3,021,330 shares of company stock worth $16,608,998. 22.68% of the stock is currently owned by corporate insiders.

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.