425,800 Shares in Snap Inc. (NYSE:SNAP) Purchased by Columbus Hill Capital Management L.P.

Columbus Hill Capital Management L.P. bought a new stake in shares of Snap Inc. (NYSE:SNAP) in the 4th quarter, Holdings Channel.com reports. The fund bought 425,800 shares of the company’s stock, valued at approximately $4,586,000. Snap comprises approximately 0.9% of Columbus Hill Capital Management L.P.’s investment portfolio, making the stock its 20th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. acquired a new position in shares of Snap during the 4th quarter worth approximately $27,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Snap in the fourth quarter worth $32,000. Blue Trust Inc. lifted its position in shares of Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock valued at $47,000 after acquiring an additional 2,453 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in shares of Snap in the fourth quarter valued at $54,000. Finally, V Square Quantitative Management LLC increased its position in Snap by 213.3% during the 4th quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company’s stock worth $91,000 after purchasing an additional 5,704 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Snap Trading Up 0.4 %

NYSE:SNAP opened at $8.06 on Friday. Snap Inc. has a one year low of $7.66 and a one year high of $17.33. The business’s 50-day simple moving average is $9.95 and its 200 day simple moving average is $10.77. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of -19.18 and a beta of 0.92.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, sell-side analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $11.49, for a total transaction of $206,820.00. Following the transaction, the general counsel now directly owns 480,498 shares in the company, valued at $5,520,922.02. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Eric Young sold 102,152 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the sale, the senior vice president now directly owns 3,443,419 shares in the company, valued at $37,326,661.96. This trade represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,356,523 shares of company stock worth $12,710,077 in the last ninety days. 22.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SNAP shares. Susquehanna upped their target price on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Bank of America lifted their target price on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Barclays reissued an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Guggenheim reaffirmed a “neutral” rating on shares of Snap in a research report on Wednesday. Finally, Citigroup increased their target price on Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Snap currently has an average rating of “Hold” and a consensus price target of $36.80.

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.