Caisse Des Depots ET Consignations Lowers Position in Snap Inc. $SNAP

Caisse Des Depots ET Consignations trimmed its stake in Snap Inc. (NYSE:SNAP) by 32.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 211,657 shares of the company’s stock after selling 100,307 shares during the quarter. Caisse Des Depots ET Consignations’ holdings in Snap were worth $1,708,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNAP. Alyeska Investment Group L.P. acquired a new position in Snap during the third quarter valued at approximately $176,697,000. Junto Capital Management LP acquired a new position in Snap during the third quarter valued at approximately $29,071,000. Voloridge Investment Management LLC lifted its position in Snap by 53.3% during the third quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock valued at $79,420,000 after buying an additional 3,582,223 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Snap by 537.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,150,134 shares of the company’s stock valued at $33,492,000 after buying an additional 3,499,578 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in Snap by 895.9% during the third quarter. Holocene Advisors LP now owns 3,560,234 shares of the company’s stock valued at $27,449,000 after buying an additional 3,202,737 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SNAP shares. HSBC cut shares of Snap from a “hold” rating to a “hold” rating in a research report on Monday. Sanford C. Bernstein cut shares of Snap from a “market perform” rating to a “market perform” rating in a research report on Monday. Roth Mkm set a $7.00 price target on shares of Snap in a research report on Thursday, February 5th. Morgan Stanley reduced their price target on shares of Snap from $9.50 to $6.50 and set an “equal weight” rating on the stock in a research report on Sunday, February 22nd. Finally, Arete Research set a $7.30 price target on shares of Snap and gave the company a “buy” rating in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.93.

Snap Trading Up 3.7%

NYSE SNAP opened at $6.30 on Friday. The company’s fifty day simple moving average is $5.07 and its 200-day simple moving average is $6.63. Snap Inc. has a 52 week low of $3.81 and a 52 week high of $10.41. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 1.53. The stock has a market cap of $10.63 billion, a P/E ratio of -23.31 and a beta of 1.05.

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

Insider Transactions at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $5.36, for a total value of $5,360,000.00. Following the sale, the chief technology officer directly owned 49,313,775 shares of the company’s stock, valued at $264,321,834. This represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Derek Andersen sold 92,956 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $4.59, for a total transaction of $426,668.04. Following the completion of the sale, the chief financial officer directly owned 3,799,661 shares in the company, valued at $17,440,443.99. This represents a 2.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,565,573 shares of company stock valued at $13,329,781 over the last ninety days. 22.68% of the stock is currently owned by corporate insiders.

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.