Stance Capital LLC Takes $1.41 Million Position in Snap Inc. $SNAP

Stance Capital LLC purchased a new stake in shares of Snap Inc. (NYSE:SNAP) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 183,069 shares of the company’s stock, valued at approximately $1,411,000.

Other institutional investors also recently bought and sold shares of the company. Alyeska Investment Group L.P. bought a new position in Snap during the third quarter valued at $176,697,000. Junto Capital Management LP bought a new stake in shares of Snap in the 3rd quarter worth about $29,071,000. Voloridge Investment Management LLC boosted its stake in shares of Snap by 53.3% during the 3rd quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock worth $79,420,000 after purchasing an additional 3,582,223 shares during the period. Holocene Advisors LP grew its holdings in Snap by 895.9% during the 3rd 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 during the last quarter. Finally, Westerly Capital Management LLC purchased a new stake in Snap in the 3rd quarter worth about $11,565,000. 47.52% of the stock is currently owned by institutional investors.

Insider Transactions at Snap

In other news, insider Ajit Mohan sold 119,339 shares of the stock in a transaction 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 transaction, the insider owned 5,158,477 shares of the company’s stock, valued at approximately $24,244,841.90. This represents a 2.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Derek Andersen sold 92,956 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $4.59, for a total value of $426,668.04. Following the transaction, the chief financial officer owned 3,799,661 shares in the company, valued at approximately $17,440,443.99. This represents a 2.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 2,570,641 shares of company stock valued at $13,436,343.

Snap Price Performance

Shares of SNAP stock opened at $4.65 on Wednesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56. The company has a market capitalization of $7.85 billion, a P/E ratio of -17.20 and a beta of 0.83. The company’s 50-day simple moving average is $6.06 and its two-hundred day simple moving average is $7.24. Snap Inc. has a one year low of $4.52 and a one year high of $10.41.

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

Wall Street Analysts Forecast Growth

SNAP has been the subject of several analyst reports. B. Riley Financial raised shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Snap in a research note on Wednesday, January 21st. Morgan Stanley reduced their price target on Snap from $9.50 to $6.50 and set an “equal weight” rating on the stock in a report on Sunday, February 22nd. Guggenheim restated a “neutral” rating and set a $6.50 price objective on shares of Snap in a report on Thursday, February 5th. Finally, Susquehanna cut their price objective on Snap from $9.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. One 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 issued a Sell rating to the stock. Based on data from MarketBeat, Snap currently has an average rating of “Hold” and an average price target of $8.17.

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.