199,084 Shares in Snap Inc. $SNAP Bought by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP acquired a new position in shares of Snap Inc. (NYSE:SNAP) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 199,084 shares of the company’s stock, valued at approximately $1,063,000.

Several other institutional investors have also recently modified their holdings of the stock. Signaturefd LLC lifted its stake in Snap by 68.9% in the 3rd quarter. Signaturefd LLC now owns 5,211 shares of the company’s stock valued at $28,000 after buying an additional 2,126 shares in the last quarter. Fifth Third Bancorp grew its holdings in Snap by 6,678.0% during the 1st quarter. Fifth Third Bancorp now owns 6,778 shares of the company’s stock valued at $31,000 after buying an additional 6,678 shares during the last quarter. NFSG Corp grew its holdings in Snap by 52.7% during the 1st quarter. NFSG Corp now owns 8,400 shares of the company’s stock valued at $39,000 after buying an additional 2,900 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Snap by 135.6% during the first quarter. EverSource Wealth Advisors LLC now owns 8,525 shares of the company’s stock worth $39,000 after buying an additional 4,907 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC purchased a new position in Snap during the second quarter worth $47,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Price Performance

Shares of SNAP stock opened at $5.34 on Thursday. Snap Inc. has a 1-year low of $3.81 and a 1-year high of $9.13. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 1.52. The firm’s 50-day simple moving average is $5.73 and its 200-day simple moving average is $5.36.

Snap (NYSE:SNAP) last released its earnings results on Wednesday, November 4th. The company reported $0.03 earnings per share (EPS) for the quarter. Snap had a negative net margin of 2.30% and a negative return on equity of 7.10%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the company earned ($0.06) earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, research analysts anticipate that Snap Inc. will post -0.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNAP has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a report on Thursday, October 15th. Citizens Jmp restated a “market perform” rating on shares of Snap in a research report on Tuesday, August 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $8.00 price objective on shares of Snap in a research note on Thursday, September 17th. The Goldman Sachs Group reiterated a “neutral” rating and set a $6.50 price objective on shares of Snap in a research report on Tuesday, August 4th. Finally, UBS Group reissued a “buy” rating on shares of Snap in a research note on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.31.

Insider Activity at Snap

In other Snap news, General Counsel Zachary Briers sold 136,504 shares of Snap stock in a transaction on Monday, August 17th. The shares were sold at an average price of $5.20, for a total value of $709,820.80. Following the transaction, the general counsel owned 2,424,331 shares in the company, valued at $12,606,521.20. This trade represents a 5.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Rebecca Morrow sold 20,000 shares of Snap stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $5.35, for a total transaction of $107,000.00. Following the completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,445,926 shares of company stock valued at $22,346,930 over the last 90 days. 22.68% of the stock is currently owned by insiders.

About Snap

Snap Inc. is a technology company best known for Snapchat, a mobile application for visual communication. The company’s products and services help people share photos and videos, message friends, and explore content from creators and publishers. Snapchat features include Stories, Spotlight for short-form video, Snap Map, and augmented reality tools such as interactive Lenses. Snap also provides advertising solutions to businesses and develops camera-related products and services, including its Spectacles smart glasses and Snap AR platform.