Praxis Investment Management Inc. Increases Holdings in Snap Inc. (NYSE:SNAP)

Praxis Investment Management Inc. grew its holdings in Snap Inc. (NYSE:SNAP) by 64.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 66,690 shares of the company’s stock after buying an additional 26,140 shares during the quarter. Praxis Investment Management Inc.’s holdings in Snap were worth $581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SNAP. Blue Trust Inc. lifted its position in shares of Snap by 128.0% in the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after purchasing an additional 2,453 shares during the period. Sanctuary Advisors LLC raised its stake in Snap by 3.5% in the fourth quarter. Sanctuary Advisors LLC now owns 84,978 shares of the company’s stock worth $964,000 after buying an additional 2,835 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Snap by 12.3% in the fourth quarter. CIBC Asset Management Inc now owns 53,524 shares of the company’s stock worth $576,000 after buying an additional 5,876 shares during the period. Concurrent Investment Advisors LLC boosted its position in Snap by 52.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 44,602 shares of the company’s stock valued at $480,000 after acquiring an additional 15,375 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Snap by 4.5% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 258,442 shares of the company’s stock worth $2,783,000 after acquiring an additional 11,100 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Stock Down 2.6%

SNAP stock opened at $8.02 on Friday. The stock has a market capitalization of $13.39 billion, a P/E ratio of -25.85 and a beta of 0.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.30 and a quick ratio of 4.30. Snap Inc. has a 1-year low of $7.08 and a 1-year high of $17.33. The business has a fifty day moving average price of $8.32 and a 200-day moving average price of $9.68.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. Snap’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 earnings per share. Equities analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNAP has been the subject of a number of research analyst reports. Citizens Jmp upgraded Snap from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Cantor Fitzgerald set a $7.00 price objective on Snap and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Loop Capital dropped their target price on shares of Snap from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, May 16th. BMO Capital Markets reduced their target price on shares of Snap from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group lowered their price target on shares of Snap from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.62.

Insider Activity

In related news, SVP Eric Young sold 117,592 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $8.59, for a total transaction of $1,010,115.28. Following the completion of the sale, the senior vice president now owns 3,348,290 shares in the company, valued at approximately $28,761,811.10. This represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 9,202 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $8.59, for a total value of $79,045.18. Following the completion of the transaction, the chief accounting officer now directly owns 448,881 shares in the company, valued at $3,855,887.79. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,639,601 shares of company stock valued at $13,532,151 over the last three months. Insiders own 22.68% of the company’s stock.

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.