Point72 DIFC Ltd Purchases New Position in Snap Inc. (NYSE:SNAP)

Point72 DIFC Ltd purchased a new stake in Snap Inc. (NYSE:SNAP) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 9,488 shares of the company’s stock, valued at approximately $158,000.

Several other large investors have also added to or reduced their stakes in SNAP. Marshall Wace LLP increased its stake in Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after buying an additional 12,533,653 shares during the last quarter. Discovery Capital Management LLC CT purchased a new stake in Snap in the 2nd quarter valued at about $22,591,000. Ensign Peak Advisors Inc increased its stake in Snap by 24.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 618,718 shares of the company’s stock valued at $10,277,000 after buying an additional 122,958 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Snap by 1.4% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 214,080 shares of the company’s stock valued at $3,556,000 after buying an additional 2,916 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new stake in Snap in the 2nd quarter valued at about $33,000. Institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total value of $239,040.00. Following the completion of the transaction, the general counsel now directly owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total transaction of $239,040.00. Following the sale, the general counsel now directly owns 463,908 shares of the company’s stock, valued at $6,160,698.24. The disclosure for this sale can be found here. Insiders sold a total of 1,493,540 shares of company stock valued at $13,271,826 in the last three months. Company insiders own 22.68% of the company’s stock.

Snap Stock Up 3.0 %

Shares of NYSE:SNAP opened at $10.88 on Friday. The firm has a fifty day moving average price of $10.11 and a two-hundred day moving average price of $12.77. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. Snap Inc. has a one year low of $8.29 and a one year high of $17.90. The company has a market cap of $18.06 billion, a price-to-earnings ratio of -13.43 and a beta of 1.00.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Analysts anticipate that Snap Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SNAP has been the subject of several analyst reports. Citigroup decreased their price objective on shares of Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. The Goldman Sachs Group decreased their price objective on shares of Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Piper Sandler restated a “neutral” rating and set a $12.00 price target (down previously from $15.00) on shares of Snap in a research note on Friday, August 2nd. Truist Financial decreased their price target on shares of Snap from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, HSBC lowered shares of Snap from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.00.

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.