Versor Investments LP Purchases Shares of 182,500 Snap Inc. $SNAP

Versor Investments LP purchased a new stake in Snap Inc. (NYSE:SNAP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 182,500 shares of the company’s stock, valued at approximately $1,473,000.

Other large investors also recently made changes to their positions in the company. Allworth Financial LP increased its stake in shares of Snap by 92.3% in the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after purchasing an additional 1,581 shares during the period. Oak Harvest Investment Services acquired a new position in shares of Snap during the fourth quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new position in shares of Snap during the fourth quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Snap during the third quarter valued at approximately $33,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Snap during the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Activity

In related news, CFO Derek Andersen sold 92,956 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $4.59, for a total value of $426,668.04. Following the completion of the transaction, the chief financial officer owned 3,799,661 shares of the company’s stock, valued at approximately $17,440,443.99. This trade represents a 2.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 16,499 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total transaction of $77,545.30. Following the completion of the transaction, the chief accounting officer directly owned 466,682 shares of the company’s stock, valued at $2,193,405.40. This represents a 3.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 565,573 shares of company stock worth $2,699,781.

Snap Trading Down 5.3%

Shares of NYSE:SNAP opened at $5.76 on Tuesday. The stock has a market capitalization of $9.72 billion, a price-to-earnings ratio of -23.99 and a beta of 1.05. Snap Inc. has a 1-year low of $3.81 and a 1-year high of $10.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.56 and a current ratio of 3.56. The company has a 50 day moving average price of $5.17 and a 200 day moving average price of $6.55.

Snap (NYSE:SNAP) last issued its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. Snap had a negative return on equity of 18.69% and a negative net margin of 6.72%.The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) earnings per share. On average, research analysts anticipate that Snap Inc. will post -0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on SNAP shares. Wall Street Zen upgraded shares of Snap from a “hold” rating to a “buy” rating in a research note on Saturday. Rosenblatt Securities reiterated a “neutral” rating and set a $6.40 price objective on shares of Snap in a research note on Thursday, April 16th. Roth Mkm set a $7.00 price objective on shares of Snap in a research note on Thursday, February 5th. Piper Sandler reiterated a “neutral” rating on shares of Snap in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada lowered their price objective on shares of Snap from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Snap currently has an average rating of “Hold” and an average target price of $7.91.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.