Snap Inc. (NYSE:SNAP) Shares Bought by Versor Investments LP

Versor Investments LP lifted its position in shares of Snap Inc. (NYSE:SNAP) by 65.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,000 shares of the company’s stock after purchasing an additional 13,800 shares during the quarter. Versor Investments LP’s holdings in Snap were worth $374,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SNAP. V Square Quantitative Management LLC purchased a new position in shares of Snap in the 3rd quarter valued at about $29,000. Paladin Wealth LLC acquired a new stake in Snap in the third quarter valued at approximately $30,000. Hollencrest Capital Management purchased a new stake in shares of Snap in the second quarter valued at approximately $33,000. Blue Trust Inc. raised its stake in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after buying an additional 1,682 shares during the period. Finally, Rothschild Investment LLC purchased a new position in shares of Snap during the 2nd quarter valued at approximately $40,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Stock Performance

NYSE SNAP opened at $10.61 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The company has a market cap of $17.79 billion, a P/E ratio of -18.28 and a beta of 0.99. The stock has a 50-day moving average of $10.68 and a two-hundred day moving average of $12.69. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.90.

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

Insider Activity at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the transaction, the chief technology officer now owns 57,210,989 shares in the company, valued at $715,137,362.50. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.31, for a total transaction of $221,580.00. Following the completion of the sale, the general counsel now directly owns 471,058 shares in the company, valued at approximately $5,798,723.98. This represents a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,221,220 shares of company stock worth $14,659,201. Company insiders own 22.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SNAP shares. Canaccord Genuity Group upped their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. JMP Securities reduced their price target on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company lowered their price objective on Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of Snap in a report on Wednesday, October 30th. Finally, Truist Financial lifted their price target on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. One 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.31.

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.