Quantbot Technologies LP Trims Position in Snap Inc. (NYSE:SNAP)

Quantbot Technologies LP reduced its stake in Snap Inc. (NYSE:SNAP) by 14.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,111 shares of the company’s stock after selling 13,282 shares during the quarter. Quantbot Technologies LP’s holdings in Snap were worth $868,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new position in Snap during the second quarter worth $33,000. Blue Trust Inc. grew its stake in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC purchased a new stake in Snap during the second quarter worth about $40,000. V Square Quantitative Management LLC acquired a new stake in shares of Snap in the 3rd quarter worth approximately $29,000. Finally, Paladin Wealth LLC purchased a new position in Snap during the 3rd quarter valued at about $30,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Stock Up 1.7 %

Shares of Snap stock opened at $11.81 on Monday. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.90. The stock has a market cap of $19.81 billion, a price-to-earnings ratio of -20.36 and a beta of 0.99. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The company has a fifty day moving average price of $11.04 and a 200 day moving average price of $12.29.

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

Analyst Ratings Changes

SNAP has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $14.00 target price on shares of Snap in a research note on Wednesday, September 18th. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 price objective (up previously from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Bank of America boosted their target price on shares of Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald raised their price target on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Citigroup boosted their price objective on shares of Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap presently has an average rating of “Hold” and an average price target of $14.33.

Insider Buying and Selling at Snap

In other news, Director Joanna Coles sold 6,434 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the sale, the director now directly owns 54,761 shares in the company, valued at $657,132. This trade represents a 10.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Derek Andersen sold 97,608 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. This trade represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,388,709 shares of company stock valued at $16,448,087 over the last 90 days. 22.68% of the stock is owned by corporate insiders.

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.