IHT Wealth Management LLC grew its holdings in Snap Inc. (NYSE:SNAP) by 15.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 13,750 shares of the company’s stock after acquiring an additional 1,864 shares during the period. IHT Wealth Management LLC’s holdings in Snap were worth $719,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in Snap by 2.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 129,244,796 shares of the company’s stock worth $6,758,211,000 after acquiring an additional 2,841,583 shares during the last quarter. Jennison Associates LLC acquired a new stake in Snap during the 1st quarter worth approximately $2,031,464,000. Janus Henderson Group PLC raised its holdings in shares of Snap by 10.8% in the first quarter. Janus Henderson Group PLC now owns 20,686,704 shares of the company’s stock valued at $1,081,706,000 after purchasing an additional 2,017,296 shares during the last quarter. Lone Pine Capital LLC acquired a new stake in shares of Snap in the fourth quarter valued at approximately $976,895,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Snap by 15.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,698,171 shares of the company’s stock valued at $454,827,000 after purchasing an additional 1,139,728 shares during the last quarter. Institutional investors own 52.74% of the company’s stock.
In other news, Director Joanna Coles sold 2,091 shares of the business’s stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $51.36, for a total transaction of $107,393.76. Following the sale, the director now directly owns 45,513 shares in the company, valued at $2,337,547.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Derek Andersen sold 13,406 shares of the business’s stock in a transaction dated Monday, May 17th. The stock was sold at an average price of $52.87, for a total value of $708,775.22. Following the sale, the chief financial officer now owns 1,265,218 shares in the company, valued at $66,892,075.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,207,758 shares of company stock valued at $261,476,395.
Shares of NYSE SNAP opened at $63.39 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.31 and a quick ratio of 4.31. Snap Inc. has a 12 month low of $20.61 and a 12 month high of $73.59. The business’s 50-day simple moving average is $62.13.
Snap (NYSE:SNAP) last issued its earnings results on Thursday, April 22nd. The company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.02. The firm had revenue of $769.58 million during the quarter, compared to the consensus estimate of $739.61 million. Snap had a negative return on equity of 43.12% and a negative net margin of 32.90%. The business’s quarterly revenue was up 66.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. On average, sell-side analysts predict that Snap Inc. will post -0.48 earnings per share for the current year.
Snap, Inc engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application.
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