Snap Inc. (NYSE:SNAP) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp raised its position in Snap Inc. (NYSE:SNAP) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,838 shares of the company’s stock after buying an additional 8,714 shares during the quarter. Mackenzie Financial Corp’s holdings in Snap were worth $2,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. APG Asset Management N.V. raised its position in Snap by 3.9% in the 2nd quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock valued at $45,835,000 after purchasing an additional 112,135 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Snap by 72.7% in the fourth quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock valued at $188,000 after buying an additional 4,679 shares during the last quarter. Alta Park Capital LP acquired a new stake in shares of Snap during the fourth quarter worth about $13,845,000. Quadrature Capital Ltd purchased a new position in shares of Snap during the first quarter worth about $3,233,000. Finally, Marshall Wace LLP grew its holdings in shares of Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after buying an additional 12,533,653 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Trading Up 4.5 %

Shares of Snap stock opened at $10.89 on Thursday. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The business has a 50 day moving average price of $9.95 and a 200 day moving average price of $12.77. The company has a market capitalization of $17.86 billion, a P/E ratio of -13.44 and a beta of 1.00.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share 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 company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Sell-side analysts anticipate that Snap Inc. will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total transaction of $239,040.00. Following the sale, the general counsel now owns 463,908 shares in the company, valued at $6,160,698.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Tuesday, August 6th. The shares were 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 of the company’s stock, valued at approximately $508,832,634.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,511,540 shares of company stock worth $13,466,406. 22.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SNAP. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. JPMorgan Chase & Co. lowered their price objective on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Argus upgraded shares of Snap to a “hold” rating in a research report on Thursday, August 8th. B. Riley initiated coverage on shares of Snap in a report on Friday, September 20th. They issued a “neutral” rating and a $11.00 target price on the stock. Finally, Barclays cut their price target on shares of Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.00.

Snap Company Profile

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.