Leonteq Securities AG Has $1.47 Million Position in Snap Inc. $SNAP

Leonteq Securities AG raised its holdings in Snap Inc. (NYSE:SNAP) by 58.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 318,755 shares of the company’s stock after buying an additional 117,987 shares during the period. Leonteq Securities AG’s holdings in Snap were worth $1,466,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Korea Investment CORP grew its holdings in shares of Snap by 573.6% in the 3rd quarter. Korea Investment CORP now owns 967,544 shares of the company’s stock valued at $7,460,000 after acquiring an additional 823,900 shares in the last quarter. Ausdal Financial Partners Inc. raised its holdings in Snap by 76.3% during the third quarter. Ausdal Financial Partners Inc. now owns 628,109 shares of the company’s stock worth $4,843,000 after acquiring an additional 271,893 shares in the last quarter. Quinn Opportunity Partners LLC raised its holdings in Snap by 56.5% during the third quarter. Quinn Opportunity Partners LLC now owns 1,486,281 shares of the company’s stock worth $11,459,000 after acquiring an additional 536,721 shares in the last quarter. Capital World Investors boosted its position in Snap by 1.5% during the third quarter. Capital World Investors now owns 87,272,463 shares of the company’s stock valued at $672,896,000 after purchasing an additional 1,316,448 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Snap during the fourth quarter valued at approximately $1,629,000. 47.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on SNAP. BNP Paribas Exane downgraded Snap to a “neutral” rating in a research note on Monday, April 27th. Rothschild & Co Redburn raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Monday, April 27th. TD Cowen initiated coverage on Snap in a report on Monday, April 27th. They issued a “buy” rating for the company. Canaccord Genuity Group decreased their target price on shares of Snap from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Finally, Wells Fargo & Company boosted their target price on shares of Snap from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty-three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.79.

Snap Stock Performance

Shares of NYSE SNAP opened at $4.83 on Friday. 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 Inc. has a 12 month low of $3.81 and a 12 month high of $10.41. The stock has a 50 day moving average of $5.43 and a 200-day moving average of $5.85. The company has a market capitalization of $8.16 billion, a P/E ratio of -20.14 and a beta of 1.05.

Snap (NYSE:SNAP) last posted its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts predict that Snap Inc. will post -0.07 EPS for the current year.

Insider Activity

In other Snap news, General Counsel Zachary M. Briers sold 129,493 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.60, for a total value of $725,160.80. Following the transaction, the general counsel directly owned 2,644,538 shares in the company, valued at $14,809,412.80. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 dated Monday, May 18th. The shares were sold at an average price of $5.60, for a total transaction of $250,796.00. Following the completion of the transaction, the insider directly 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. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 2,907,554 shares of company stock valued at $16,093,619. 22.68% of the stock is owned by company insiders.

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.