696,442 Shares in Snap Inc. $SNAP Acquired by Marsico Capital Management LLC

Marsico Capital Management LLC purchased a new position in Snap Inc. (NYSE:SNAP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 696,442 shares of the company’s stock, valued at approximately $5,620,000.

A number of other hedge funds also recently modified their holdings of SNAP. Alyeska Investment Group L.P. bought a new stake in shares of Snap in the 3rd quarter worth approximately $176,697,000. Junto Capital Management LP purchased a new position in Snap in the 3rd quarter valued at approximately $29,071,000. Voloridge Investment Management LLC grew its position 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 valued at $79,420,000 after purchasing an additional 3,582,223 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Snap by 537.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,150,134 shares of the company’s stock valued at $33,492,000 after purchasing an additional 3,499,578 shares in the last quarter. Finally, Holocene Advisors LP grew its position in shares of 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 in the last quarter. Institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Zachary M. Briers sold 11,958 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $6.00, for a total value of $71,748.00. Following the sale, the general counsel owned 2,560,835 shares in the company, valued at approximately $15,365,010. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 16,729 shares of Snap stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.60, for a total transaction of $93,682.40. Following the transaction, the chief accounting officer owned 512,811 shares in the company, valued at $2,871,741.60. This represents a 3.16% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 3,021,330 shares of company stock valued at $16,608,998 in the last ninety days. Corporate insiders own 22.68% of the company’s stock.

Snap Stock Performance

Shares of NYSE:SNAP opened at $5.32 on Friday. The company has a market cap of $8.98 billion, a price-to-earnings ratio of -22.15 and a beta of 1.03. The company has a 50-day moving average price of $5.60 and a 200-day moving average price of $6.17. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.67. Snap Inc. has a 12 month low of $3.81 and a 12 month high of $10.41.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the business earned ($0.08) earnings per share. The business’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities analysts anticipate that Snap Inc. will post -0.06 EPS for the current year.

Wall Street Analyst Weigh In

SNAP has been the subject of a number of recent analyst reports. Loop Capital set a $8.00 price target on shares of Snap in a research report on Monday, February 23rd. Freedom Capital lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. TD Cowen initiated coverage on shares of Snap in a research report on Monday, April 27th. They set a “buy” rating for the company. KeyCorp upgraded shares of Snap from a “sector weight” rating to an “overweight” rating in a research report on Monday, April 27th. Finally, Barclays upgraded shares of Snap from an “overweight” rating to an “overweight” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.91.

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.