Xponance Inc. Buys 3,042 Shares of Snap Inc. (NYSE:SNAP)

Xponance Inc. increased its position in Snap Inc. (NYSE:SNAP) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,450 shares of the company’s stock after acquiring an additional 3,042 shares during the quarter. Xponance Inc.’s holdings in Snap were worth $565,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SNAP. United Bank purchased a new position in shares of Snap during the 3rd quarter valued at $177,000. Empowered Funds LLC lifted its position in Snap by 13.2% in the 3rd quarter. Empowered Funds LLC now owns 34,584 shares of the company’s stock worth $370,000 after buying an additional 4,044 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Snap in the 3rd quarter valued at $81,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Snap during the third quarter valued at about $288,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after acquiring an additional 1,632 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insider Activity at Snap

In related news, CFO Derek Andersen sold 33,618 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.83, for a total value of $296,846.94. Following the transaction, the chief financial officer now owns 3,507,897 shares of the company’s stock, valued at $30,974,730.51. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Eric Young sold 102,152 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the transaction, the senior vice president now owns 3,443,419 shares in the company, valued at $37,326,661.96. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,350,523 shares of company stock worth $12,698,797 in the last quarter. 22.68% of the stock is owned by company insiders.

Snap Stock Up 0.9 %

Shares of SNAP opened at $9.63 on Wednesday. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.33. The company has a market cap of $16.34 billion, a PE ratio of -22.93 and a beta of 0.92. The business has a fifty day moving average of $10.33 and a 200 day moving average of $10.81.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, sell-side analysts expect that Snap Inc. will post -0.3 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, February 5th. Guggenheim downgraded Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. BMO Capital Markets reissued an “outperform” rating and set a $16.00 price objective (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Citigroup increased their price target on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, JMP Securities reissued a “market outperform” rating and issued a $16.00 target price on shares of Snap in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.87.

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.