Elo Mutual Pension Insurance Co Grows Stock Holdings in Snap Inc. $SNAP

Elo Mutual Pension Insurance Co lifted its stake in Snap Inc. (NYSE:SNAP) by 19.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,082 shares of the company’s stock after purchasing an additional 10,970 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Snap were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNAP. Vanguard Group Inc. raised its stake in Snap by 6.7% during the first quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company’s stock valued at $953,601,000 after buying an additional 6,921,841 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Snap by 110.4% during the first quarter. AQR Capital Management LLC now owns 11,300,874 shares of the company’s stock valued at $95,549,000 after acquiring an additional 5,930,766 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Snap by 4,603.7% in the 2nd quarter. SG Americas Securities LLC now owns 3,006,711 shares of the company’s stock worth $26,128,000 after purchasing an additional 2,942,789 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Snap by 38.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,777,523 shares of the company’s stock worth $41,612,000 after purchasing an additional 1,336,264 shares during the last quarter. Finally, Invenomic Capital Management LP boosted its stake in Snap by 180.2% in the 1st quarter. Invenomic Capital Management LP now owns 1,983,447 shares of the company’s stock worth $17,276,000 after purchasing an additional 1,275,630 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling at Snap

In related news, CFO Derek Andersen sold 62,868 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $8.34, for a total transaction of $524,319.12. Following the completion of the sale, the chief financial officer directly owned 3,030,301 shares in the company, valued at approximately $25,272,710.34. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $8.00, for a total transaction of $8,000,000.00. Following the completion of the transaction, the chief technology officer owned 51,911,126 shares in the company, valued at $415,289,008. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,426,728 shares of company stock worth $11,458,580. 22.68% of the stock is owned by corporate insiders.

Snap Price Performance

Shares of SNAP opened at $7.68 on Friday. The firm has a fifty day simple moving average of $8.03 and a two-hundred day simple moving average of $8.22. The firm has a market cap of $13.20 billion, a PE ratio of -26.46 and a beta of 0.89. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 1.57. Snap Inc. has a 1-year low of $6.90 and a 1-year high of $13.28.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS. On average, equities analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SNAP shares. Wells Fargo & Company raised their price objective on shares of Snap from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Piper Sandler boosted their price objective on shares of Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Guggenheim reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Snap in a research report on Friday, September 12th. Stifel Nicolaus set a $7.00 target price on Snap in a report on Thursday, November 6th. Finally, JMP Securities restated a “market perform” rating on shares of Snap in a research note on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Snap presently has an average rating of “Hold” and a consensus target price of $35.06.

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.