Rothschild Investment LLC Purchases New Shares in Snap Inc. (NYSE:SNAP)

Rothschild Investment LLC purchased a new stake in Snap Inc. (NYSE:SNAP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,400 shares of the company’s stock, valued at approximately $40,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Snap by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock worth $1,103,786,000 after acquiring an additional 830,889 shares during the period. SRS Investment Management LLC boosted its position in Snap by 23.6% during the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after acquiring an additional 12,452,415 shares during the period. Capital World Investors boosted its position in Snap by 0.8% during the 1st quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock worth $531,206,000 after acquiring an additional 385,191 shares during the period. Ossiam lifted its holdings in shares of Snap by 7.1% during the 1st quarter. Ossiam now owns 11,334,804 shares of the company’s stock valued at $130,124,000 after buying an additional 751,846 shares during the last quarter. Finally, Carmignac Gestion acquired a new stake in shares of Snap during the 4th quarter valued at about $110,103,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the sale, the chief technology officer now owns 58,553,813 shares in the company, valued at $508,832,634.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the sale, the chief technology officer now directly owns 58,553,813 shares in the company, valued at $508,832,634.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $16.56, for a total value of $298,080.00. Following the completion of the sale, the general counsel now owns 481,908 shares of the company’s stock, valued at $7,980,396.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,356,370 shares of company stock worth $12,151,603. 22.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Hsbc Global Res lowered Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Wolfe Research assumed coverage on Snap in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. reduced their price target on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Truist Financial reduced their price target on Snap from $16.00 to $13.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Finally, Argus raised Snap to a “hold” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.87.

Snap Trading Up 1.1 %

SNAP stock opened at $8.89 on Friday. The company has a market cap of $14.59 billion, a P/E ratio of -10.98 and a beta of 1.00. Snap Inc. has a twelve month low of $8.28 and a twelve month high of $17.90. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The business has a fifty day moving average of $12.11 and a 200-day moving average of $12.93.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. As a group, equities research analysts expect that Snap Inc. will post -0.48 EPS for the current year.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.