Bryce Point Capital LLC Has $179,000 Stake in Snap Inc. $SNAP

Bryce Point Capital LLC boosted its position in shares of Snap Inc. (NYSE:SNAP) by 95.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,625 shares of the company’s stock after purchasing an additional 10,063 shares during the period. Bryce Point Capital LLC’s holdings in Snap were worth $179,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SNAP. Signaturefd LLC boosted its position in shares of Snap by 169.9% in the second quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock worth $26,000 after buying an additional 1,852 shares during the period. Quarry LP purchased a new stake in Snap in the 1st quarter worth about $34,000. Itau Unibanco Holding S.A. acquired a new stake in Snap during the 1st quarter worth about $35,000. Wealth Preservation Advisors LLC acquired a new position in shares of Snap in the 1st quarter valued at about $44,000. Finally, S Bank Fund Management Ltd purchased a new stake in shares of Snap in the first quarter worth approximately $53,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Trading Down 4.6%

Shares of SNAP opened at $7.46 on Wednesday. The stock’s fifty day simple moving average is $7.79 and its 200-day simple moving average is $8.26. The firm has a market capitalization of $12.61 billion, a PE ratio of -23.32 and a beta of 0.89. Snap Inc. has a 12-month low of $6.90 and a 12-month high of $13.28. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.73.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business posted ($0.15) EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Snap

In other Snap news, CFO Derek Andersen sold 33,871 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $7.56, for a total transaction of $256,064.76. Following the completion of the sale, the chief financial officer owned 3,109,581 shares in the company, valued at approximately $23,508,432.36. The trade was a 1.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 24,000 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $7.73, for a total value of $185,520.00. Following the completion of the transaction, the general counsel directly owned 490,454 shares in the company, valued at approximately $3,791,209.42. This trade represents a 4.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,510,569 shares of company stock worth $11,541,723 in the last 90 days.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SNAP shares. Bank of America lowered their price objective on shares of Snap from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Citizens Jmp reissued a “market perform” rating on shares of Snap in a research report on Wednesday, August 6th. Citigroup lowered Snap from an “outperform” rating to a “negative” rating in a research note on Tuesday, July 15th. New Street Research cut shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 28th. Finally, Sanford C. Bernstein upped their price target on Snap from $9.00 to $10.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus target price of $34.57.

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.