Snap Inc. (NYSE:SNAP) Shares Sold by Think Investments LP

Think Investments LP cut its holdings in Snap Inc. (NYSE:SNAP) by 14.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,859,900 shares of the company’s stock after selling 630,600 shares during the quarter. Snap comprises 9.1% of Think Investments LP’s holdings, making the stock its 3rd biggest position. Think Investments LP’s holdings in Snap were worth $41,571,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SNAP. Mountain Hill Investment Partners Corp. acquired a new position in Snap during the 4th quarter worth approximately $27,000. Raiffeisen Bank International AG acquired a new position in Snap during the 4th quarter worth approximately $30,000. Comprehensive Financial Planning Inc. PA acquired a new position in Snap during the 4th quarter worth approximately $32,000. Osterweis Capital Management Inc. acquired a new position in Snap during the 4th quarter worth approximately $43,000. Finally, Blue Trust Inc. boosted its position in Snap by 128.0% during the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after acquiring an additional 2,453 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Up 1.9%

SNAP stock opened at $8.74 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The stock has a market capitalization of $14.60 billion, a price-to-earnings ratio of -20.81 and a beta of 0.61. The business’s fifty day moving average price is $8.48 and its two-hundred day moving average price is $10.25. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the business earned $0.03 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $8.03, for a total value of $8,030,000.00. Following the transaction, the chief technology officer now owns 54,517,308 shares in the company, valued at approximately $437,773,983.24. This trade represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Derek Andersen sold 61,334 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $664,860.56. Following the completion of the transaction, the chief financial officer now owns 3,564,235 shares in the company, valued at $38,636,307.40. The trade was a 1.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,632,116 shares of company stock worth $23,127,182. Company insiders own 22.68% of the company’s stock.

Analyst Upgrades and Downgrades

SNAP has been the subject of a number of recent research reports. UBS Group reduced their price target on Snap from $14.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. B. Riley cut their price objective on Snap from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Barclays reissued an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. Cantor Fitzgerald set a $7.00 price objective on Snap and gave the company a “neutral” rating in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut their price objective on Snap from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.62.

Snap 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.