TB Alternative Assets Ltd. Has $8.92 Million Stock Position in Snap Inc. (NYSE:SNAP)

TB Alternative Assets Ltd. lowered its position in shares of Snap Inc. (NYSE:SNAP) by 75.7% in the first quarter, HoldingsChannel reports. The fund owned 1,023,649 shares of the company’s stock after selling 3,190,863 shares during the period. Snap makes up 2.1% of TB Alternative Assets Ltd.’s portfolio, making the stock its 13th largest position. TB Alternative Assets Ltd.’s holdings in Snap were worth $8,916,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Snap by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock worth $71,095,000 after acquiring an additional 389,812 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Snap by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company’s stock worth $16,565,000 after purchasing an additional 29,526 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Snap by 3.1% during the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock worth $384,000 after purchasing an additional 1,055 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Snap by 2.4% during the 4th quarter. Ameriprise Financial Inc. now owns 157,118 shares of the company’s stock worth $1,692,000 after purchasing an additional 3,710 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Snap during the 4th quarter worth approximately $158,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Stock Up 0.7%

SNAP stock opened at $8.26 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The stock has a market capitalization of $13.80 billion, a price-to-earnings ratio of -19.67 and a beta of 0.61. The business’s fifty day moving average price is $8.27 and its two-hundred day moving average price is $9.92. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.12). The firm had revenue of $1.36 billion for 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 firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. On average, equities analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 24,000 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $8.15, for a total value of $195,600.00. Following the transaction, the general counsel now owns 521,790 shares in the company, valued at approximately $4,252,588.50. This trade represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s 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 $504,599,673.92. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,634,313 shares of company stock worth $22,581,690. Company insiders own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNAP. Cantor Fitzgerald set a $7.00 price objective on Snap and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Loop Capital dropped their price objective on Snap from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. Susquehanna dropped their price objective on Snap from $13.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. The Goldman Sachs Group dropped their price objective on Snap from $9.50 to $8.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. Finally, BMO Capital Markets dropped their price objective on Snap from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.62.

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.