SG Americas Securities LLC Raises Holdings in Snap Inc. $SNAP

SG Americas Securities LLC boosted its position in Snap Inc. (NYSE:SNAP) by 44.7% during the first quarter, Holdings Channel.com reports. The fund owned 4,535,783 shares of the company’s stock after purchasing an additional 1,401,178 shares during the quarter. SG Americas Securities LLC’s holdings in Snap were worth $20,865,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in shares of Snap by 5.1% in the 3rd quarter. Mackenzie Financial Corp now owns 27,638 shares of the company’s stock worth $213,000 after purchasing an additional 1,349 shares during the period. WealthCollab LLC grew its holdings in shares of Snap by 1.2% during the 4th quarter. WealthCollab LLC now owns 115,390 shares of the company’s stock worth $931,000 after purchasing an additional 1,369 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Snap by 0.3% during the 3rd quarter. Alliancebernstein L.P. now owns 414,416 shares of the company’s stock worth $3,195,000 after purchasing an additional 1,396 shares during the period. Orion Porfolio Solutions LLC grew its holdings in shares of Snap by 8.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 18,913 shares of the company’s stock worth $164,000 after purchasing an additional 1,451 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its position in Snap by 37.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 5,500 shares of the company’s stock worth $44,000 after purchasing an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Stock Performance

Shares of NYSE:SNAP opened at $4.54 on Thursday. The company has a market cap of $7.67 billion, a P/E ratio of -18.92 and a beta of 1.03. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.53 and a current ratio of 3.53. Snap Inc. has a one year low of $3.81 and a one year high of $10.41. The business’s 50-day simple moving average is $5.61 and its 200 day simple moving average is $5.99.

Snap (NYSE:SNAP) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The firm’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) EPS. On average, sell-side analysts forecast that Snap Inc. will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other news, CFO Douglas Hott sold 124,209 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.60, for a total transaction of $695,570.40. Following the transaction, the chief financial officer directly owned 2,571,149 shares of the company’s stock, valued at approximately $14,398,434.40. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Robert C. Murphy sold 2,000,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $5.44, for a total transaction of $10,880,000.00. Following the completion of the transaction, the chief technology officer directly owned 47,012,324 shares of the company’s stock, valued at approximately $255,747,042.56. The trade was a 4.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 2,907,554 shares of company stock valued at $16,093,619. 22.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

SNAP has been the topic of several research reports. Guggenheim restated a “neutral” rating and issued a $6.50 price target on shares of Snap in a report on Thursday, April 16th. Sanford C. Bernstein downgraded shares of Snap from a “market perform” rating to a “market perform” rating in a research note on Monday, April 27th. Benchmark reissued a “hold” rating on shares of Snap in a research report on Wednesday, June 17th. Stifel Nicolaus raised their target price on shares of Snap from $4.50 to $5.25 and gave the company a “hold” rating in a research note on Tuesday, April 21st. Finally, Barclays upgraded shares of Snap from an “overweight” rating to an “overweight” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty-three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Snap currently has an average rating of “Hold” and a consensus price target of $7.79.

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.