Susquehanna Fundamental Investments LLC Acquires Shares of 90,900 Snap Inc. (NYSE:SNAP)

Susquehanna Fundamental Investments LLC bought a new position in shares of Snap Inc. (NYSE:SNAP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 90,900 shares of the company’s stock, valued at approximately $979,000.

A number of other hedge funds also recently modified their holdings of SNAP. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Snap by 18.3% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 426,248 shares of the company’s stock worth $4,641,000 after buying an additional 65,808 shares in the last quarter. RBF Capital LLC acquired a new stake in shares of Snap during the 4th quarter worth approximately $431,000. Dark Forest Capital Management LP bought a new position in Snap in the fourth quarter valued at approximately $149,000. SRS Investment Management LLC raised its position in Snap by 1.4% during the fourth quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock valued at $793,998,000 after purchasing an additional 1,001,632 shares in the last quarter. Finally, Senator Investment Group LP bought a new stake in Snap during the fourth quarter worth $16,155,000. Institutional investors own 47.52% of the company’s stock.

Snap Stock Performance

Shares of Snap stock opened at $7.83 on Friday. The company has a market cap of $13.27 billion, a P/E ratio of -18.63 and a beta of 0.92. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The business has a 50-day moving average price of $8.73 and a two-hundred day moving average price of $10.41. Snap Inc. has a 1-year low of $7.08 and a 1-year high of $17.33.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.12). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share. As a group, analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

Insider Activity

In other news, CAO Rebecca Morrow sold 8,837 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the sale, the chief accounting officer now owns 429,892 shares in the company, valued at $4,660,029.28. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total value of $9,040,000.00. Following the completion of the transaction, the chief technology officer now owns 55,818,548 shares in the company, valued at approximately $504,599,673.92. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,362,523 shares of company stock worth $12,689,017 in the last quarter. 22.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SNAP. JPMorgan Chase & Co. decreased their price target on Snap from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Bank of America lowered their target price on Snap from $14.50 to $10.50 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Citizens Jmp upgraded shares of Snap from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. JMP Securities set a $12.00 price objective on shares of Snap in a research report on Friday, April 25th. Finally, Susquehanna cut their target price on shares of Snap from $13.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.58.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.