Snap Inc. $SNAP Shares Acquired by Centaurus Financial Inc.

Centaurus Financial Inc. increased its position in Snap Inc. (NYSE:SNAP) by 890.5% in the 3rd quarter, Holdings Channel reports. The firm owned 237,568 shares of the company’s stock after buying an additional 213,584 shares during the period. Centaurus Financial Inc.’s holdings in Snap were worth $1,832,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Capital World Investors grew its stake in Snap by 1.5% during the 3rd quarter. Capital World Investors now owns 87,272,463 shares of the company’s stock worth $672,896,000 after buying an additional 1,316,448 shares during the last quarter. Capital International Investors lifted its stake in Snap by 0.3% in the third 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. purchased a new stake in Snap in the third quarter valued at approximately $176,697,000. Voloridge Investment Management LLC boosted its holdings in shares of Snap by 53.3% in the third 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 during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Snap by 27.9% in the third 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 during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on SNAP. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Snap in a report on Wednesday, January 21st. The Goldman Sachs Group decreased their price target on shares of Snap from $9.50 to $8.50 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. UBS Group reissued a “buy” rating on shares of Snap in a research report on Monday, February 23rd. Wells Fargo & Company dropped their price objective on shares of Snap from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. Finally, B. Riley Financial raised shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.17.

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $5.36, for a total transaction of $5,360,000.00. Following the completion of the transaction, the chief technology officer directly owned 49,313,775 shares of the company’s stock, valued at $264,321,834. This represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Rebecca Morrow sold 16,499 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total transaction of $77,545.30. Following the completion of the sale, the chief accounting officer owned 466,682 shares of the company’s stock, valued at approximately $2,193,405.40. The trade was a 3.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,570,641 shares of company stock worth $13,436,343. 22.68% of the stock is currently owned by insiders.

Snap Price Performance

Snap stock opened at $4.63 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56. The business has a 50 day simple moving average of $5.98 and a 200-day simple moving average of $7.22. Snap Inc. has a 12 month low of $4.52 and a 12 month high of $10.41. The stock has a market capitalization of $7.81 billion, a PE ratio of -17.13 and a beta of 0.83.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $0.01 earnings per share. Equities analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

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.