Bryce Point Capital LLC Makes New $577,000 Investment in Snap Inc. (NYSE:SNAP)

Bryce Point Capital LLC acquired a new stake in Snap Inc. (NYSE:SNAP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 53,544 shares of the company’s stock, valued at approximately $577,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNAP. Invenomic Capital Management LP acquired a new stake in Snap during the third quarter worth approximately $2,349,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Snap by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock worth $71,095,000 after buying an additional 389,812 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Snap by 49.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock worth $28,245,000 after buying an additional 879,212 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Snap in the 4th quarter valued at $289,000. Finally, Holocene Advisors LP bought a new stake in shares of Snap in the 3rd quarter valued at $3,436,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on SNAP. Susquehanna raised their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Wells Fargo & Company reduced their target price on Snap from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday. Bank of America upped their price target on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. BMO Capital Markets reissued an “outperform” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. lowered their target price on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $36.80.

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’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 owns 480,498 shares of the company’s stock, valued at $5,520,922.02. This represents a 3.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total value of $9,040,000.00. Following the transaction, the chief technology officer now owns 55,818,548 shares of the company’s stock, valued at $504,599,673.92. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,356,523 shares of company stock valued at $12,710,077 in the last three months. Company insiders own 22.68% of the company’s stock.

Snap Stock Down 0.8 %

SNAP stock opened at $8.86 on Thursday. The stock has a market cap of $15.03 billion, a P/E ratio of -21.09 and a beta of 0.92. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock’s fifty day simple moving average is $10.06 and its two-hundred day simple moving average is $10.80. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Analysts expect that Snap Inc. will post -0.3 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.