Virtu Financial LLC Has $1.43 Million Stake in Snap Inc (SNAP)
Virtu Financial LLC lessened its position in shares of Snap Inc (NYSE:SNAP) by 27.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 129,880 shares of the company’s stock after selling 50,314 shares during the quarter. Virtu Financial LLC’s holdings in Snap were worth $1,431,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in SNAP. Vanguard Group Inc raised its position in Snap by 57.6% in the third quarter. Vanguard Group Inc now owns 47,237,907 shares of the company’s stock valued at $400,578,000 after purchasing an additional 17,260,731 shares during the period. Vanguard Group Inc. grew its stake in shares of Snap by 57.6% in the third quarter. Vanguard Group Inc. now owns 47,237,907 shares of the company’s stock worth $400,578,000 after acquiring an additional 17,260,731 shares in the last quarter. Hillhouse Capital Advisors Ltd. acquired a new position in shares of Snap in the fourth quarter worth $38,157,000. WS Management Lllp acquired a new position in shares of Snap in the fourth quarter worth $8,265,000. Finally, TB Alternative Assets Ltd. grew its stake in shares of Snap by 511.4% in the fourth quarter. TB Alternative Assets Ltd. now owns 1,650,100 shares of the company’s stock worth $9,092,000 after acquiring an additional 1,380,200 shares in the last quarter. 23.31% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Jeremi Gorman sold 38,048 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $11.99, for a total value of $456,195.52. Following the transaction, the insider now owns 3,000,258 shares of the company’s stock, valued at approximately $35,973,093.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jerry James Hunter sold 14,828 shares of the firm’s stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $5.77, for a total transaction of $85,557.56. Following the completion of the transaction, the vice president now directly owns 1,852,833 shares in the company, valued at approximately $10,690,846.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,517,946 shares of company stock worth $64,715,231.
Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, February 5th. The company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.15. The company had revenue of $389.82 million for the quarter, compared to the consensus estimate of $378.90 million. Snap had a negative net margin of 106.39% and a negative return on equity of 46.90%. Snap’s revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.13) earnings per share. As a group, equities analysts expect that Snap Inc will post -0.68 EPS for the current year.
SNAP has been the subject of several research reports. Zacks Investment Research upgraded shares of Snap from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a research note on Tuesday, January 29th. BTIG Research upgraded shares of Snap from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Thursday, March 14th. ValuEngine downgraded shares of Snap from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Pivotal Research downgraded shares of Snap from a “buy” rating to a “hold” rating and decreased their price objective for the company from $8.00 to $6.00 in a research note on Monday, January 7th. Finally, Aegis reduced their target price on shares of Snap from $10.00 to $7.00 and set a “hold” rating for the company in a report on Wednesday, January 16th. Three investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $9.36.
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Snap Company Profile
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
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