Bridgefront Capital LLC Reduces Position in Snap Inc. (NYSE:SNAP)

Bridgefront Capital LLC reduced its holdings in Snap Inc. (NYSE:SNAP) by 73.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,657 shares of the company’s stock after selling 60,004 shares during the period. Bridgefront Capital LLC’s holdings in Snap were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Capital International Investors acquired a new stake in shares of Snap in the fourth quarter valued at approximately $422,049,000. Capital World Investors increased its stake in shares of Snap by 38.9% in the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after acquiring an additional 23,569,522 shares during the last quarter. Norges Bank acquired a new position in shares of Snap during the 4th quarter valued at about $30,162,000. Renaissance Technologies LLC purchased a new stake in shares of Snap in the fourth quarter valued at about $27,713,000. Finally, Portolan Capital Management LLC acquired a new stake in Snap during the fourth quarter worth about $25,447,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insiders Place Their Bets

In other Snap news, SVP Eric Young sold 102,152 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $1,107,327.68. Following the sale, the senior vice president now owns 3,443,419 shares of the company’s stock, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Derek Andersen sold 61,334 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $664,860.56. Following the completion of the sale, the chief financial officer now directly owns 3,564,235 shares in the company, valued at $38,636,307.40. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,362,523 shares of company stock worth $20,719,017. 22.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on SNAP shares. Truist Financial lowered their price objective on Snap from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Citigroup dropped their price target on shares of Snap from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Canaccord Genuity Group decreased their price objective on shares of Snap from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. Stifel Nicolaus lowered their price target on Snap from $11.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Finally, UBS Group dropped their price objective on Snap from $14.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.50.

Snap Stock Up 1.0 %

Shares of Snap stock opened at $8.22 on Friday. Snap Inc. has a one year low of $7.08 and a one year high of $17.33. The company has a market cap of $13.94 billion, a P/E ratio of -19.56 and a beta of 0.61. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The firm has a fifty day moving average of $8.55 and a two-hundred day moving average of $10.33.

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

Snap Company Profile

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.