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

Point72 DIFC Ltd purchased a new position 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 institutional investors and hedge funds also recently made changes to their positions in the business. APG Asset Management N.V. increased its holdings in shares of Snap by 3.9% in the 2nd quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock valued at $45,835,000 after acquiring an additional 112,135 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Snap by 72.7% in the fourth quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after acquiring an additional 4,679 shares during the last quarter. Alta Park Capital LP acquired a new position in Snap in the fourth quarter valued at approximately $13,845,000. Quadrature Capital Ltd bought a new stake in shares of Snap in the 1st quarter worth approximately $3,233,000. Finally, Marshall Wace LLP boosted its position in Snap by 587.3% during the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after purchasing an additional 12,533,653 shares during the period. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SNAP shares. JMP Securities reiterated a “market perform” rating on shares of Snap in a research report on Wednesday, September 18th. Wolfe Research began coverage on shares of Snap in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Barclays cut their price objective on shares of Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $14.00 price objective on shares of Snap in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Snap currently has an average rating of “Hold” and a consensus target price of $14.00.

Insider Activity at Snap

In related news, CFO Derek Andersen sold 97,608 shares of the firm’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 transaction, the chief financial officer now owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Derek Andersen sold 97,608 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the transaction, the chief financial officer now owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elizabeth Jenkins sold 9,965 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.19, for a total value of $91,578.35. Following the completion of the sale, the director now owns 40,406 shares of the company’s stock, valued at $371,331.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,493,540 shares of company stock valued at $13,271,826. 22.68% of the stock is owned by insiders.

Snap Stock Down 2.7 %

SNAP stock opened at $10.41 on Wednesday. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. The company has a market cap of $17.08 billion, a PE ratio of -12.85 and a beta of 1.00. The business has a 50-day simple moving average of $10.03 and a 200 day simple moving average of $12.77.

Snap (NYSE:SNAP) last released its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Sell-side analysts anticipate that Snap Inc. will post -0.47 EPS for the current fiscal year.

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.