Profund Advisors LLC Sells 53,588 Shares of Snap Inc. (NYSE:SNAP)

Profund Advisors LLC cut its stake in shares of Snap Inc. (NYSE:SNAP) by 48.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,110 shares of the company’s stock after selling 53,588 shares during the period. Profund Advisors LLC’s holdings in Snap were worth $949,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in shares of Snap in the second quarter worth $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 worth $36,000 after acquiring an additional 1,682 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Snap in the 2nd quarter valued at about $40,000. J.Safra Asset Management Corp raised its stake in Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after purchasing an additional 2,330 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd bought a new stake in shares of Snap during the 1st quarter worth $100,000. 47.52% of the stock is currently owned by institutional investors.

Snap Stock Performance

SNAP stock opened at $10.20 on Tuesday. The stock’s 50 day simple moving average is $10.46 and its 200 day simple moving average is $12.82. 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 Inc. has a 12-month low of $8.28 and a 12-month high of $17.90. The stock has a market capitalization of $16.74 billion, a PE ratio of -12.59 and a beta of 1.00.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. As a group, research analysts forecast that Snap Inc. will post -0.48 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other Snap news, CFO Derek Andersen sold 97,608 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the transaction, the chief financial officer now owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other 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 transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. 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 firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the transaction, the chief financial officer now directly owns 2,287,970 shares in the company, valued at $21,255,241.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,511,540 shares of company stock worth $13,569,906 in the last ninety days. Insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SNAP shares. Bank of America cut their price objective on shares of Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. HSBC lowered shares of Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $8.00 price target on shares of Snap in a research report on Monday. Argus raised Snap to a “hold” rating in a research note on Thursday, August 8th. Finally, Hsbc Global Res downgraded Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.76.

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.