Entropy Technologies LP Acquires New Position in Snap Inc. (NYSE:SNAP)

Entropy Technologies LP purchased a new position in shares of Snap Inc. (NYSE:SNAP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 77,425 shares of the company’s stock, valued at approximately $828,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in shares of Snap in the 3rd quarter worth about $29,000. Paladin Wealth LLC bought a new stake in shares of Snap in the 3rd quarter worth approximately $30,000. Hollencrest Capital Management acquired a new stake in shares of Snap during the second quarter valued at approximately $33,000. Blue Trust Inc. increased 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 buying an additional 1,682 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Snap in the second quarter worth approximately $40,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Michael J. O’sullivan sold 59,053 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $548,602.37. Following the sale, the general counsel now directly owns 1,258,278 shares in the company, valued at $11,689,402.62. This represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Derek Andersen sold 97,608 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the sale, the chief financial officer now owns 2,287,970 shares in the company, valued at $21,255,241.30. The trade was a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,221,220 shares of company stock valued at $14,659,201. 22.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on SNAP. Wells Fargo & Company decreased their price objective on shares of Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Cantor Fitzgerald increased their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Hsbc Global Res lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.31.

Snap Stock Down 3.1 %

Shares of NYSE SNAP opened at $10.77 on Friday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The company has a market cap of $18.06 billion, a price-to-earnings ratio of -18.55 and a beta of 0.99. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90. The stock has a 50-day moving average price of $10.60 and a two-hundred day moving average price of $12.73.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. As a group, analysts forecast that Snap Inc. will post -0.41 earnings per share for the current fiscal year.

Snap 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.