Headlands Technologies LLC cut its stake in Snap Inc. (NYSE:SNAP – Free Report) by 9.8% in the second quarter, Holdings Channel reports. The fund owned 62,185 shares of the company’s stock after selling 6,749 shares during the period. Headlands Technologies LLC’s holdings in Snap were worth $1,033,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of SNAP. Steward Partners Investment Advisory LLC grew its holdings in shares of Snap by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after purchasing an additional 891 shares during the period. GraniteShares Advisors LLC grew its holdings in shares of Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock worth $634,000 after purchasing an additional 941 shares during the period. Charles Schwab Investment Advisory Inc. grew its holdings in shares of Snap by 2.7% during the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after purchasing an additional 956 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in Snap by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after acquiring an additional 1,048 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Snap by 6.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after acquiring an additional 1,232 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Snap
In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on 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 transaction, the chief technology officer now directly owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The sale was disclosed in a document filed 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 Snap stock in a transaction that occurred on 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 transaction, the chief technology officer now directly owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rebecca Morrow sold 8,923 shares of Snap stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.10, for a total value of $81,199.30. Following the completion of the transaction, the chief accounting officer now owns 472,405 shares in the company, valued at $4,298,885.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,352,420 shares of company stock worth $12,091,682. 22.68% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on Snap
Snap Trading Up 4.1 %
SNAP opened at $9.00 on Thursday. The firm has a market cap of $14.93 billion, a price-to-earnings ratio of -11.10 and a beta of 1.01. Snap Inc. has a 52 week low of $8.28 and a 52 week high of $17.90. The business’s 50 day moving average is $11.65 and its two-hundred day moving average is $12.91. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74.
Snap (NYSE:SNAP – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. On average, research analysts predict 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.
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