Lombard Odier Asset Management Switzerland SA Lowers Position in Snap Inc. $SNAP

Lombard Odier Asset Management Switzerland SA reduced its stake in Snap Inc. (NYSE:SNAP) by 90.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 29,051 shares of the company’s stock after selling 282,231 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Snap were worth $252,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in Snap by 110.4% during the first quarter. AQR Capital Management LLC now owns 11,300,874 shares of the company’s stock worth $95,549,000 after buying an additional 5,930,766 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Snap by 4,603.7% in the 2nd quarter. SG Americas Securities LLC now owns 3,006,711 shares of the company’s stock worth $26,128,000 after acquiring an additional 2,942,789 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Snap by 38.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,777,523 shares of the company’s stock worth $41,612,000 after purchasing an additional 1,336,264 shares during the period. Invenomic Capital Management LP increased its holdings in Snap by 180.2% in the 1st quarter. Invenomic Capital Management LP now owns 1,983,447 shares of the company’s stock valued at $17,276,000 after purchasing an additional 1,275,630 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in Snap in the second quarter valued at approximately $10,330,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Arete Research upgraded Snap from a “sell” rating to a “neutral” rating in a research report on Tuesday, November 18th. UBS Group increased their target price on Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. New Street Research downgraded Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 28th. Piper Sandler boosted their price target on shares of Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Guggenheim reissued a “neutral” rating and issued a $8.00 price objective on shares of Snap in a research note on Friday, September 12th. Three analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.85.

Snap Price Performance

Shares of NYSE SNAP opened at $7.91 on Thursday. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.67 and a quick ratio of 3.67. The company has a market cap of $13.59 billion, a price-to-earnings ratio of -27.26 and a beta of 0.85. The stock’s 50-day moving average is $7.96 and its two-hundred day moving average is $8.18. Snap Inc. has a 1-year low of $6.90 and a 1-year high of $13.28.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm posted ($0.09) earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

In other news, CFO Derek Andersen sold 62,868 shares of Snap stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.34, for a total transaction of $524,319.12. Following the completion of the sale, the chief financial officer directly owned 3,030,301 shares of the company’s stock, valued at approximately $25,272,710.34. The trade was a 2.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajit Mohan sold 109,372 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.34, for a total transaction of $912,162.48. Following the transaction, the insider owned 5,326,801 shares of the company’s stock, valued at approximately $44,425,520.34. The trade was a 2.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,426,728 shares of company stock worth $11,458,580. Insiders own 22.68% of the company’s stock.

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.