Snap Inc. (NYSE:SNAP) Shares Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP lifted its position in Snap Inc. (NYSE:SNAP) by 166.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,150 shares of the company’s stock after acquiring an additional 42,612 shares during the quarter. GSA Capital Partners LLP’s holdings in Snap were worth $729,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Entropy Technologies LP bought a new stake in Snap during the third quarter valued at $828,000. Versor Investments LP grew its position in shares of Snap by 65.1% during the 3rd quarter. Versor Investments LP now owns 35,000 shares of the company’s stock valued at $374,000 after buying an additional 13,800 shares during the last quarter. United Bank acquired a new stake in Snap during the third quarter worth about $177,000. Concurrent Investment Advisors LLC raised its stake in Snap by 8.3% during the third quarter. Concurrent Investment Advisors LLC now owns 29,227 shares of the company’s stock worth $313,000 after acquiring an additional 2,229 shares during the period. Finally, Forum Financial Management LP lifted its holdings in Snap by 49.2% in the third quarter. Forum Financial Management LP now owns 17,556 shares of the company’s stock worth $188,000 after acquiring an additional 5,793 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNAP. Roth Mkm reaffirmed a “neutral” rating and set a $14.00 target price on shares of Snap in a report on Wednesday, September 18th. JMP Securities dropped their target price on Snap from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 30th. Susquehanna reduced their price target on shares of Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Truist Financial increased their price objective on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, Bank of America boosted their target price on shares of Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Snap has a consensus rating of “Hold” and an average target price of $14.31.

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.31, for a total value of $221,580.00. Following the completion of the sale, the general counsel now directly owns 471,058 shares of the company’s stock, valued at $5,798,723.98. This represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the completion of the transaction, the chief technology officer now owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,221,220 shares of company stock worth $14,659,201 over the last quarter. Corporate insiders own 22.68% of the company’s stock.

Snap Price Performance

NYSE SNAP opened at $10.60 on Monday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.90. The company has a market cap of $17.78 billion, a PE ratio of -18.28 and a beta of 0.99. The stock’s 50-day moving average price is $10.68 and its two-hundred day moving average price is $12.65.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year. On average, analysts predict that Snap Inc. will post -0.41 EPS for the current year.

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.