Quest Partners LLC Invests $81,000 in Snap Inc. (NYSE:SNAP)

Quest Partners LLC purchased a new position in Snap Inc. (NYSE:SNAP) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,586 shares of the company’s stock, valued at approximately $81,000.

A number of other hedge funds also recently bought and sold shares of the company. Marshall Wace LLP lifted its stake in shares of Snap by 587.3% in the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after buying an additional 12,533,653 shares in the last quarter. TB Alternative Assets Ltd. raised its holdings in Snap by 105.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after acquiring an additional 4,098,847 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Snap by 19.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,018,678 shares of the company’s stock valued at $50,145,000 after acquiring an additional 490,906 shares in the last quarter. APG Asset Management N.V. boosted its stake in Snap by 3.9% during 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 purchasing an additional 112,135 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Snap by 74.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock worth $46,913,000 after purchasing an additional 1,201,565 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Insider Activity

In other Snap news, CFO Derek Andersen sold 97,608 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction 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 $21,255,241.30. This trade represents a 4.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the sale, the chief technology officer now directly owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,388,709 shares of company stock worth $16,448,087 over the last quarter. Insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of Snap in a report on Wednesday, October 30th. Bank of America raised their price target on shares of Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Loop Capital boosted their price objective on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised their target price on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, B. Riley lifted their target price on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One equities research 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 stock. According to data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus price target of $14.39.

Snap Trading Up 1.7 %

Shares of SNAP stock opened at $11.81 on Friday. The stock has a fifty day simple moving average of $11.04 and a two-hundred day simple moving average of $12.34. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The firm has a market capitalization of $19.80 billion, a PE ratio of -20.35 and a beta of 0.99. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company earned ($0.21) EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. On average, analysts predict that Snap Inc. will post -0.4 EPS for the current fiscal year.

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.