Snap Inc. $SNAP Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd trimmed its stake in Snap Inc. (NYSE:SNAP) by 48.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 161,328 shares of the company’s stock after selling 152,430 shares during the quarter. WINTON GROUP Ltd’s holdings in Snap were worth $716,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Independent Advisor Alliance raised its stake in Snap by 16.8% during the fourth quarter. Independent Advisor Alliance now owns 14,782 shares of the company’s stock worth $119,000 after purchasing an additional 2,128 shares during the period. NFSG Corp boosted its holdings in shares of Snap by 52.7% in the 1st quarter. NFSG Corp now owns 8,400 shares of the company’s stock valued at $39,000 after purchasing an additional 2,900 shares during the last quarter. Westpac Banking Corp grew its stake in shares of Snap by 62.8% during the 4th quarter. Westpac Banking Corp now owns 7,836 shares of the company’s stock valued at $63,000 after buying an additional 3,024 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Snap by 561.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock valued at $29,000 after buying an additional 3,071 shares during the period. Finally, Nwam LLC increased its holdings in shares of Snap by 23.1% during the 1st quarter. Nwam LLC now owns 26,302 shares of the company’s stock worth $121,000 after buying an additional 4,936 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNAP. Freedom Capital raised Snap from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Evercore set a $8.00 price target on Snap in a research report on Tuesday, August 4th. Stifel Nicolaus set a $7.50 price target on Snap in a research note on Tuesday, August 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Snap in a report on Friday, July 17th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Snap in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twenty-four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.65.

Insider Activity at Snap

In other news, CAO Rebecca Morrow sold 20,000 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $5.35, for a total value of $107,000.00. Following the completion of the sale, the chief accounting officer owned 578,105 shares in the company, valued at approximately $3,092,861.75. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Douglas Hott sold 131,884 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $5.20, for a total value of $685,796.80. Following the sale, the chief financial officer owned 2,324,563 shares in the company, valued at approximately $12,087,727.60. The trade was a 5.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,439,129 shares of company stock valued at $13,387,372 over the last 90 days.

Snap Stock Performance

Shares of SNAP stock opened at $5.83 on Tuesday. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.75. The company has a market cap of $9.85 billion, a PE ratio of -32.37 and a beta of 1.05. The company’s fifty day simple moving average is $5.12 and its 200-day simple moving average is $5.18. Snap Inc. has a 52 week low of $3.81 and a 52 week high of $9.28.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Snap had a negative net margin of 4.90% and a negative return on equity of 14.61%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the company earned ($0.16) EPS. The firm’s revenue was up 18.9% on a year-over-year basis. As a group, equities research analysts anticipate that Snap Inc. will post -0.02 EPS for the current year.

Snap Company Profile

Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, text messages and augmented reality experiences, including Lenses and filters. The platform also offers Stories, Spotlight for short-form video, Snap Map and other tools for discovering and sharing content.

Snap generates most of its business through digital advertising, including advertising displayed across Snapchat’s content and communication features.