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

Y Intercept Hong Kong Ltd increased its position in shares of Snap Inc. (NYSE:SNAP) by 1,015.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,230,760 shares of the company’s stock after purchasing an additional 1,120,413 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.07% of Snap worth $9,932,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Korea Investment CORP lifted its holdings in Snap by 573.6% in the third quarter. Korea Investment CORP now owns 967,544 shares of the company’s stock valued at $7,460,000 after acquiring an additional 823,900 shares during the period. Contrarius Group Holdings Ltd acquired a new position in Snap in the third quarter valued at approximately $10,256,000. DNB Asset Management AS lifted its holdings in Snap by 433.6% in the third quarter. DNB Asset Management AS now owns 1,042,873 shares of the company’s stock valued at $8,041,000 after acquiring an additional 847,447 shares during the period. Quantbot Technologies LP lifted its holdings in Snap by 54.4% in the third quarter. Quantbot Technologies LP now owns 749,724 shares of the company’s stock valued at $5,780,000 after acquiring an additional 264,156 shares during the period. Finally, Ausdal Financial Partners Inc. lifted its holdings in Snap by 76.3% in the third quarter. Ausdal Financial Partners Inc. now owns 628,109 shares of the company’s stock valued at $4,843,000 after acquiring an additional 271,893 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Stock Down 1.5%

Shares of NYSE:SNAP opened at $5.25 on Friday. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.67. The business has a fifty day moving average of $5.61 and a two-hundred day moving average of $6.16. The stock has a market cap of $8.87 billion, a P/E ratio of -21.88 and a beta of 1.03. Snap Inc. has a 52-week low of $3.81 and a 52-week high of $10.41.

Snap (NYSE:SNAP) last issued its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.14). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) earnings per share. On average, research analysts expect that Snap Inc. will post -0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SNAP shares. Citigroup reissued a “neutral” rating on shares of Snap in a report on Monday, May 18th. Rothschild & Co Redburn raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Monday, April 27th. Wells Fargo & Company boosted their price target on Snap from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. decreased their price target on Snap from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Thursday, May 7th. Finally, Tigress Financial started coverage on Snap in a report on Monday, April 27th. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.91.

Insider Buying and Selling

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

About Snap

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.