SG Americas Securities LLC Has $25.30 Million Stake in Snap Inc. $SNAP

SG Americas Securities LLC boosted its stake in Snap Inc. (NYSE:SNAP) by 26.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,134,605 shares of the company’s stock after acquiring an additional 648,240 shares during the quarter. SG Americas Securities LLC owned 0.18% of Snap worth $25,296,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in shares of Snap by 1.5% in the 3rd quarter. Capital World Investors now owns 87,272,463 shares of the company’s stock valued at $672,896,000 after purchasing an additional 1,316,448 shares during the period. Capital International Investors raised its position in Snap by 0.3% in the 3rd quarter. Capital International Investors now owns 37,780,205 shares of the company’s stock valued at $291,285,000 after buying an additional 95,989 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Snap in the 3rd quarter valued at approximately $176,697,000. Voloridge Investment Management LLC lifted its stake in Snap by 53.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock valued at $79,420,000 after acquiring an additional 3,582,223 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Snap by 27.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,117,858 shares of the company’s stock valued at $47,224,000 after acquiring an additional 1,335,830 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNAP has been the subject of several research reports. Stifel Nicolaus set a $5.50 price target on shares of Snap and gave the stock a “hold” rating in a research note on Thursday, February 5th. Piper Sandler reissued a “neutral” rating on shares of Snap in a research report on Thursday, February 5th. The Goldman Sachs Group reduced their target price on shares of Snap from $9.50 to $8.50 and set a “neutral” rating for the company in a report on Tuesday, January 13th. Canaccord Genuity Group set a $7.00 target price on shares of Snap in a research report on Thursday, February 5th. Finally, TD Cowen lowered their price target on shares of Snap from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.17.

Snap Stock Down 11.0%

NYSE:SNAP opened at $4.00 on Friday. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of -14.80 and a beta of 0.83. Snap Inc. has a twelve month low of $3.90 and a twelve month high of $10.41. The stock’s 50 day moving average price is $5.54 and its two-hundred day moving average price is $7.10. The company has a quick ratio of 3.56, a current ratio of 3.56 and a debt-to-equity ratio of 1.53.

Snap (NYSE:SNAP) last released its quarterly earnings data 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 company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the company posted $0.01 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts expect that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Derek Andersen sold 92,956 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $4.59, for a total transaction of $426,668.04. Following the transaction, the chief financial officer directly owned 3,799,661 shares in the company, valued at $17,440,443.99. The trade was a 2.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca Morrow sold 16,499 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total transaction of $77,545.30. Following the transaction, the chief accounting officer owned 466,682 shares in the company, valued at $2,193,405.40. This represents a 3.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,570,641 shares of company stock valued at $13,436,343. 22.68% of the stock is owned by corporate insiders.

Snap 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.