Snap Inc. $SNAP Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its holdings in shares of Snap Inc. (NYSE:SNAP) by 537.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,150,134 shares of the company’s stock after purchasing an additional 3,499,578 shares during the period. Assenagon Asset Management S.A.’s holdings in Snap were worth $33,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNAP. Allworth Financial LP raised its stake in shares of Snap by 92.3% during the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after buying an additional 1,581 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Snap in the 3rd quarter valued at about $33,000. Banque Cantonale Vaudoise purchased a new stake in shares of Snap in the third quarter worth about $39,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Snap in the third quarter worth about $53,000. Finally, CoreCap Advisors LLC grew its holdings in Snap by 826.1% during the third quarter. CoreCap Advisors LLC now owns 9,363 shares of the company’s stock worth $72,000 after acquiring an additional 8,352 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. BNP Paribas Exane initiated coverage on Snap in a research report on Wednesday, January 14th. They set a “strong sell” rating for the company. Mizuho lowered their price objective on Snap from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. B. Riley Financial raised shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Thursday, February 5th. UBS Group reaffirmed a “buy” rating on shares of Snap in a report on Monday, February 23rd. Finally, Guggenheim reiterated a “neutral” rating and issued a $6.50 target price on shares of Snap in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Snap currently has an average rating of “Hold” and an average target price of $8.17.

Snap Stock Up 2.8%

SNAP stock opened at $4.48 on Thursday. Snap Inc. has a 52 week low of $4.31 and a 52 week high of $10.41. The company has a quick ratio of 3.56, a current ratio of 3.56 and a debt-to-equity ratio of 1.53. The firm has a 50-day simple moving average of $5.61 and a 200-day simple moving average of $7.12. The stock has a market capitalization of $7.57 billion, a P/E ratio of -16.61 and a beta of 0.83.

Snap (NYSE:SNAP) last issued its quarterly earnings results 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). 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 analysts’ expectations of $1.70 billion. During the same period in the prior year, the business posted $0.01 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other news, CFO Derek Andersen sold 92,956 shares of Snap stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $4.59, for a total value of $426,668.04. Following the sale, the chief financial officer directly owned 3,799,661 shares of the company’s stock, valued at $17,440,443.99. The trade was a 2.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ajit Mohan sold 119,339 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total value of $560,893.30. Following the sale, the insider owned 5,158,477 shares of the company’s stock, valued at $24,244,841.90. The trade was a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,570,641 shares of company stock worth $13,436,343. 22.68% of the stock is owned by insiders.

Snap Company 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.