Junto Capital Management LP Purchases New Holdings in Snap Inc. $SNAP

Junto Capital Management LP acquired a new position in Snap Inc. (NYSE:SNAP) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,770,605 shares of the company’s stock, valued at approximately $29,071,000. Junto Capital Management LP owned 0.22% of Snap as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Holocene Advisors LP lifted its holdings in shares of Snap by 895.9% in the third quarter. Holocene Advisors LP now owns 3,560,234 shares of the company’s stock valued at $27,449,000 after purchasing an additional 3,202,737 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Snap during the third quarter valued at $269,000. Cinctive Capital Management LP acquired a new position in Snap during the third quarter valued at $8,874,000. Ausdal Financial Partners Inc. lifted its stake in Snap by 76.3% in the 3rd quarter. Ausdal Financial Partners Inc. now owns 628,109 shares of the company’s stock worth $4,843,000 after acquiring an additional 271,893 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Snap by 0.3% in the 3rd quarter. Alliancebernstein L.P. now owns 414,416 shares of the company’s stock worth $3,195,000 after acquiring an additional 1,396 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Trading Down 1.7%

Shares of NYSE:SNAP opened at $4.57 on Monday. The stock has a market capitalization of $7.72 billion, a PE ratio of -16.94 and a beta of 0.83. Snap Inc. has a 1 year low of $4.52 and a 1 year high of $10.41. The firm has a fifty day moving average price of $6.21 and a 200 day moving average price of $7.27. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 1.53.

Snap (NYSE:SNAP) last posted its earnings results on Wednesday, February 4th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.12). Snap had a negative return on equity of 20.72% and a negative net margin of 7.76%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the company earned $0.01 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNAP. Morgan Stanley lowered their target price on Snap from $9.50 to $6.50 and set an “equal weight” rating on the stock in a research note on Sunday, February 22nd. The Goldman Sachs Group reduced their price target on shares of Snap from $9.50 to $8.50 and set a “neutral” rating for the company in a research report on Tuesday, January 13th. Citizens Jmp restated a “market perform” rating on shares of Snap in a report on Thursday, February 5th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $8.00 price objective on shares of Snap in a research report on Thursday, February 5th. Finally, Rosenblatt Securities dropped their price objective on shares of Snap from $9.50 to $6.40 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.17.

Insider Buying and Selling

In other Snap news, insider Ajit Mohan sold 119,339 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total transaction of $560,893.30. Following the completion of the sale, the insider owned 5,158,477 shares of the company’s stock, valued at $24,244,841.90. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Zachary M. Briers sold 134,705 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total value of $633,113.50. Following the transaction, the general counsel owned 2,854,088 shares in the company, valued at approximately $13,414,213.60. This trade represents a 4.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 2,519,487 shares of company stock worth $13,384,277.

About Snap

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.