Militia Capital Management LLC Acquires Shares of 425,198 Snap Inc. $SNAP

Militia Capital Management LLC bought a new stake in Snap Inc. (NYSE:SNAP) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 425,198 shares of the company’s stock, valued at approximately $1,956,000.

Several other large investors have also made changes to their positions in the company. Alyeska Investment Group L.P. acquired a new stake in shares of Snap during the 3rd quarter worth about $176,697,000. AQR Capital Management LLC boosted its position in Snap by 874.3% in the fourth quarter. AQR Capital Management LLC now owns 10,066,852 shares of the company’s stock valued at $81,239,000 after buying an additional 9,033,644 shares in the last quarter. Voloridge Investment Management LLC grew its stake in Snap by 53.3% during the third quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock worth $79,420,000 after buying an additional 3,582,223 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Snap by 537.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,150,134 shares of the company’s stock worth $33,492,000 after buying an additional 3,499,578 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in Snap by 895.9% during the third quarter. Holocene Advisors LP now owns 3,560,234 shares of the company’s stock worth $27,449,000 after buying an additional 3,202,737 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SNAP shares. BMO Capital Markets lifted their target price on shares of Snap from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, April 15th. UBS Group decreased their price target on Snap from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Monday, July 13th. BNP Paribas Exane cut Snap to a “neutral” rating in a report on Monday, April 27th. Truist Financial set a $8.00 price objective on Snap in a research report on Wednesday, June 17th. Finally, Stifel Nicolaus boosted their price objective on Snap from $4.50 to $5.25 and gave the stock a “hold” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twenty-five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.23.

Insider Activity

In other Snap news, CFO Douglas Hott sold 124,209 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.60, for a total value of $695,570.40. Following the transaction, the chief financial officer directly owned 2,571,149 shares in the company, valued at approximately $14,398,434.40. This trade represents a 4.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ajit Mohan sold 44,785 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.60, for a total value of $250,796.00. Following the completion of the transaction, the insider owned 5,057,891 shares in the company, valued at $28,324,189.60. The trade was a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 2,868,059 shares of company stock worth $15,855,631. 22.68% of the stock is owned by company insiders.

Snap Trading Down 2.0%

Shares of NYSE SNAP opened at $4.47 on Thursday. Snap Inc. has a 1-year low of $3.81 and a 1-year high of $10.37. The company has a 50-day moving average of $5.11 and a two-hundred day moving average of $5.55. The company has a market cap of $7.55 billion, a PE ratio of -18.62 and a beta of 1.05. 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 (NYSE:SNAP) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.14). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. Snap’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. As a group, equities analysts expect that Snap Inc. will post -0.07 earnings per share for the current fiscal year.

Snap Company 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.