Capital International Investors Boosts Position in Snap Inc. $SNAP

Capital International Investors increased its holdings in shares of Snap Inc. (NYSE:SNAP) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,871,060 shares of the company’s stock after purchasing an additional 90,855 shares during the quarter. Capital International Investors owned approximately 2.20% of Snap worth $305,619,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SNAP. Alyeska Investment Group L.P. purchased a new stake in Snap during the third quarter worth approximately $176,697,000. Junto Capital Management LP purchased a new stake in Snap during the third quarter worth approximately $29,071,000. Voloridge Investment Management LLC lifted its stake in Snap by 53.3% during the third quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock worth $79,420,000 after purchasing an additional 3,582,223 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Snap by 537.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,150,134 shares of the company’s stock worth $33,492,000 after purchasing an additional 3,499,578 shares during the last quarter. Finally, Holocene Advisors LP lifted its stake in Snap by 895.9% during the third quarter. Holocene Advisors LP now owns 3,560,234 shares of the company’s stock worth $27,449,000 after purchasing an additional 3,202,737 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ajit Mohan sold 44,785 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.60, for a total value of $250,796.00. Following the transaction, the insider owned 5,057,891 shares of the company’s stock, valued at approximately $28,324,189.60. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Derek Andersen sold 92,956 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $4.59, for a total value of $426,668.04. Following the completion of the transaction, the chief financial officer directly owned 3,799,661 shares in the company, valued at approximately $17,440,443.99. The trade was a 2.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,021,330 shares of company stock valued at $16,608,998.

Analysts Set New Price Targets

Several research firms recently weighed in on SNAP. BNP Paribas Exane cut Snap to a “neutral” rating in a research note on Monday, April 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Snap in a research note on Monday, April 20th. Arete Research set a $7.30 price objective on Snap and gave the company a “buy” rating in a research note on Tuesday, February 10th. Citigroup reiterated a “neutral” rating on shares of Snap in a research note on Monday, May 18th. Finally, Benchmark began coverage on Snap in a research note 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 assigned a Buy rating, twenty-two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.91.

Snap Price Performance

Shares of NYSE SNAP opened at $5.76 on Monday. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.67. Snap Inc. has a twelve month low of $3.81 and a twelve month high of $10.41. The stock has a 50 day moving average of $5.50 and a two-hundred day moving average of $6.24. The stock has a market cap of $9.72 billion, a P/E ratio of -23.99 and a beta of 1.03.

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