Snap Inc. $SNAP Shares Newly Bought by SFI Advisors LLC

SFI Advisors LLC acquired a new stake in Snap Inc. (NYSE:SNAP) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 87,114 shares of the company’s stock, valued at approximately $470,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in Snap by 278.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 14,771,533 shares of the company’s stock valued at $79,766,000 after purchasing an additional 10,868,392 shares during the period. Empyrean Capital Partners LP acquired a new stake in shares of Snap in the first quarter valued at approximately $25,300,000. Saba Capital Management L.P. increased its stake in shares of Snap by 232.5% in the first quarter. Saba Capital Management L.P. now owns 4,727,808 shares of the company’s stock valued at $21,748,000 after purchasing an additional 3,306,024 shares during the period. Riposte Capital LLC acquired a new stake in shares of Snap in the first quarter valued at approximately $5,520,000. Finally, Curated Wealth Partners LLC raised its holdings in shares of Snap by 540.0% during the third quarter. Curated Wealth Partners LLC now owns 544,828 shares of the company’s stock valued at $2,942,000 after buying an additional 459,704 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Snap news, CFO Douglas Hott sold 131,884 shares of Snap stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $5.20, for a total transaction of $685,796.80. Following the transaction, the chief financial officer owned 2,324,563 shares of the company’s stock, valued at $12,087,727.60. The trade was a 5.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Rebecca Morrow sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $5.35, for a total transaction of $107,000.00. Following the completion of the sale, the chief accounting officer directly owned 578,105 shares of the company’s stock, valued at $3,092,861.75. This trade represents a 3.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 445,926 shares of company stock worth $2,326,930 in the last quarter. Insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citizens Jmp reiterated a “market perform” rating on shares of Snap in a research report on Tuesday, August 4th. Wells Fargo & Company increased their price objective on Snap from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 4th. Stifel Nicolaus set a $7.50 target price on Snap in a research report on Tuesday, August 4th. Truist Financial reduced their price target on Snap from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $8.00 price target on shares of Snap in a research note on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.71.

Snap Trading Up 5.8%

NYSE:SNAP opened at $5.92 on Thursday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.94 and a current ratio of 2.94. Snap Inc. has a twelve month low of $3.81 and a twelve month high of $9.13. The company has a 50-day moving average of $5.76 and a 200-day moving average of $5.42.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.03 EPS for the quarter. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. Snap had a negative return on equity of 14.61% and a negative net margin of 4.90%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) EPS. Equities analysts expect that Snap Inc. will post -0.03 earnings per share for the current year.

About Snap

Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, messages and Stories, while offering creative tools such as augmented reality (AR) Lenses and filters. The platform also includes features such as Snap Map, Spotlight and content from publishers and creators.

Snap generates most of its revenue from digital advertising, including video, augmented reality and other advertising formats delivered across Snapchat.