Aigen Investment Management LP Cuts Position in Snap Inc. (NYSE:SNAP)

Aigen Investment Management LP lessened its holdings in Snap Inc. (NYSE:SNAP) by 56.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,229 shares of the company’s stock after selling 70,432 shares during the period. Aigen Investment Management LP’s holdings in Snap were worth $595,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SNAP. Geode Capital Management LLC increased its stake in Snap by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after buying an additional 575,324 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Snap by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock worth $71,095,000 after buying an additional 389,812 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Snap by 49.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after buying an additional 1,297,348 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Snap by 0.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company’s stock worth $34,950,000 after buying an additional 15,294 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Snap by 51.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock worth $33,244,000 after buying an additional 1,050,501 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SNAP shares. BMO Capital Markets reiterated an “outperform” rating and set a $16.00 price objective (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Citigroup boosted their price objective on Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Bank of America boosted their target price on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their target price on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, February 5th. Finally, Susquehanna boosted their target price on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.87.

Snap Stock Down 2.0 %

NYSE:SNAP opened at $9.60 on Friday. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock’s fifty day moving average is $11.00 and its two-hundred day moving average is $10.81. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33. The stock has a market capitalization of $16.28 billion, a price-to-earnings ratio of -22.84 and a beta of 0.92.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Research analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

Insider Transactions at Snap

In other news, SVP Eric Young sold 102,152 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the sale, the senior vice president now owns 3,443,419 shares of the company’s stock, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Derek Andersen sold 94,164 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the sale, the chief financial officer now directly owns 2,193,806 shares in the company, valued at $25,097,140.64. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 481,471 shares of company stock valued at $5,394,906. 22.68% of the stock is currently owned by company insiders.

Snap Company Profile

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.