Partners Capital Investment Group LLP Raises Stake in Snap Inc. $SNAP

Partners Capital Investment Group LLP boosted its stake in shares of Snap Inc. (NYSE:SNAP) by 53.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 218,359 shares of the company’s stock after buying an additional 75,918 shares during the quarter. Partners Capital Investment Group LLP’s holdings in Snap were worth $1,684,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SNAP. SG Americas Securities LLC boosted its stake in Snap by 4,603.7% in the second quarter. SG Americas Securities LLC now owns 3,006,711 shares of the company’s stock valued at $26,128,000 after acquiring an additional 2,942,789 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Snap during the 2nd quarter worth approximately $10,330,000. PDT Partners LLC raised its holdings in shares of Snap by 815.3% in the 2nd quarter. PDT Partners LLC now owns 1,162,409 shares of the company’s stock worth $10,101,000 after purchasing an additional 1,035,409 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in Snap by 94.1% in the second quarter. Nikko Asset Management Americas Inc. now owns 2,107,288 shares of the company’s stock valued at $18,312,000 after purchasing an additional 1,021,677 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Snap by 31.7% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,208,697 shares of the company’s stock valued at $36,574,000 after purchasing an additional 1,013,757 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SNAP shares. Truist Financial boosted their target price on Snap from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Friday, November 7th. Wells Fargo & Company lifted their price objective on Snap from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Morgan Stanley boosted their price objective on Snap from $8.50 to $9.50 and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Susquehanna reiterated a “neutral” rating and set a $9.00 target price on shares of Snap in a research report on Thursday, November 6th. Finally, BNP Paribas Exane started coverage on shares of Snap in a research note on Wednesday, January 14th. They issued a “strong sell” rating for the company. Three research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $9.82.

Insider Activity

In other news, CFO Derek Andersen sold 23,715 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $7.83, for a total transaction of $185,688.45. Following the completion of the transaction, the chief financial officer owned 2,972,051 shares of the company’s stock, valued at approximately $23,271,159.33. The trade was a 0.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 3,783 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $7.34, for a total transaction of $27,767.22. Following the completion of the sale, the chief accounting officer directly owned 483,181 shares in the company, valued at $3,546,548.54. This represents a 0.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,417,341 shares of company stock worth $11,354,730. Insiders own 22.68% of the company’s stock.

Snap Stock Down 0.5%

Shares of NYSE SNAP opened at $7.63 on Friday. The company has a quick ratio of 3.67, a current ratio of 3.67 and a debt-to-equity ratio of 1.57. The company has a market cap of $13.11 billion, a P/E ratio of -26.29 and a beta of 0.81. Snap Inc. has a 52 week low of $6.90 and a 52 week high of $11.77. The business has a 50-day simple moving average of $7.83 and a two-hundred day simple moving average of $8.03.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Snap Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.