Perpetual Ltd Makes New $302,000 Investment in Snap Inc. (NYSE:SNAP)

Perpetual Ltd acquired a new stake in Snap Inc. (NYSE:SNAP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 28,256 shares of the company’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SNAP. Hollencrest Capital Management bought a new stake in Snap in the second quarter valued at approximately $33,000. Blue Trust Inc. raised its stake in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after acquiring an additional 1,682 shares during the period. Rothschild Investment LLC acquired a new stake in Snap during the 2nd quarter valued at $40,000. J.Safra Asset Management Corp boosted its position in Snap by 534.4% during the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock worth $46,000 after purchasing an additional 2,330 shares during the period. Finally, JTC Employer Solutions Trustee Ltd acquired a new position in shares of Snap in the first quarter valued at $100,000. 47.52% of the stock is owned by institutional investors.

Insider Activity

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s 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 transaction, the chief technology officer now owns 58,553,813 shares in the company, valued at $508,832,634.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 owns 58,553,813 shares in the company, valued at $508,832,634.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $10.81, for a total transaction of $194,580.00. Following the transaction, the general counsel now directly owns 489,058 shares in the company, valued at approximately $5,286,716.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,510,352 shares of company stock valued at $13,446,353. 22.68% of the stock is currently owned by insiders.

Snap Stock Performance

Shares of SNAP stock opened at $11.13 on Friday. The business’s 50-day moving average price is $9.63 and its 200-day moving average price is $12.73. The firm has a market capitalization of $18.47 billion, a price-to-earnings ratio of -15.46 and a beta of 1.01. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. The business had revenue of $1.24 billion during 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%. Equities research analysts forecast that Snap Inc. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Truist Financial decreased their target price on Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group lowered their price objective on Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company dropped their target price on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Roth Mkm restated a “neutral” rating and issued a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price objective on shares of Snap in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.85.

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.