Brown Financial Advisors Acquires New Stake in Snap Inc. (NYSE:SNAP)

Brown Financial Advisors purchased a new position in Snap Inc. (NYSE:SNAP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,291 shares of the company’s stock, valued at approximately $370,000.

A number of other hedge funds have also recently made changes to their positions in the business. Marshall Wace LLP raised its position in shares of Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after acquiring an additional 12,533,653 shares in the last quarter. SRS Investment Management LLC raised its holdings in Snap by 23.6% in the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after purchasing an additional 12,452,415 shares during the period. Vanguard Group Inc. raised its holdings in shares of Snap by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after acquiring an additional 3,503,230 shares during the last quarter. TB Alternative Assets Ltd. grew its position in shares of Snap by 144.5% in the first quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock valued at $58,488,000 after purchasing an additional 3,011,400 shares in the last quarter. Finally, Discovery Capital Management LLC CT purchased a new position in Snap in the second quarter worth approximately $22,591,000. Institutional investors own 47.52% of the company’s stock.

Snap Stock Up 4.5 %

SNAP opened at $10.89 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90. The stock has a market capitalization of $17.86 billion, a price-to-earnings ratio of -13.44 and a beta of 1.00. The business has a 50-day moving average of $9.95 and a two-hundred day moving average of $12.77.

Snap (NYSE:SNAP) 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. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. On average, research analysts expect that Snap Inc. will post -0.47 earnings per share for the current year.

Insider Activity at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of 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 SEC, which is available through this link. In other news, CFO Derek Andersen sold 97,608 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction of $906,778.32. Following the sale, the chief financial officer now owns 2,287,970 shares in the company, valued at $21,255,241.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’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 sale, the chief technology officer now directly owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,511,540 shares of company stock valued at $13,466,406. Corporate insiders own 22.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on SNAP shares. JMP Securities reiterated a “market perform” rating on shares of Snap in a research report on Wednesday, September 18th. Truist Financial lowered their price objective on Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Morgan Stanley upgraded shares of Snap from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $12.00 to $16.00 in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $14.00 price target on shares of Snap in a research report on Wednesday, September 18th. Finally, Benchmark restated a “hold” rating on shares of Snap in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.00.

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.