Connor Clark & Lunn Investment Management Ltd. Sells 1,449,291 Shares of Snap Inc. $SNAP

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Snap Inc. (NYSE:SNAP) by 47.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,637,214 shares of the company’s stock after selling 1,449,291 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Snap were worth $14,227,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in shares of Snap by 169.9% during the 2nd 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 bought a new position in Snap in the first quarter valued at approximately $34,000. Itau Unibanco Holding S.A. acquired a new stake in Snap during the 1st quarter worth $35,000. Wealth Preservation Advisors LLC bought a new stake in shares of Snap during the 1st quarter valued at $44,000. Finally, S Bank Fund Management Ltd acquired a new position in shares of Snap in the 1st quarter valued at $53,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Up 6.0%

Shares of SNAP stock opened at $8.70 on Tuesday. The firm has a fifty day moving average of $7.87 and a 200-day moving average of $8.26. The company has a quick ratio of 3.67, a current ratio of 3.67 and a debt-to-equity ratio of 1.57. Snap Inc. has a 12-month low of $6.90 and a 12-month high of $13.28. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of -30.00 and a beta of 0.89.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) earnings per share. Snap has set its Q4 2025 guidance at EPS. As a group, equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNAP has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Snap in a research note on Wednesday, October 8th. JMP Securities reaffirmed a “market perform” rating on shares of Snap in a research note on Wednesday, August 6th. Zacks Research downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Cantor Fitzgerald boosted their price objective on shares of Snap from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Finally, Evercore ISI upped their target price on shares of Snap from $11.00 to $12.00 and gave the company an “in-line” rating in a research note on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.98.

Insider Transactions at Snap

In other news, Director Elizabeth Jenkins sold 7,900 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $55,853.00. Following the completion of the transaction, the director directly owned 65,663 shares of the company’s stock, valued at $464,237.41. This represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Derek Andersen sold 33,871 shares of Snap stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $7.56, for a total value of $256,064.76. Following the completion of the sale, the chief financial officer directly owned 3,109,581 shares in the company, valued at approximately $23,508,432.36. This represents a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 510,569 shares of company stock valued at $3,741,723.

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.