Snap Inc. (NYSE:SNAP) Stock Position Lifted by Cwm LLC

Cwm LLC lifted its stake in shares of Snap Inc. (NYSE:SNAP) by 17.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,689 shares of the company’s stock after purchasing an additional 16,968 shares during the quarter. Cwm LLC’s holdings in Snap were worth $1,227,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Dynamic Advisor Solutions LLC bought a new stake in shares of Snap during the 3rd quarter worth about $832,000. APG Asset Management N.V. raised its holdings in Snap by 3.9% during the second quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock worth $45,835,000 after purchasing an additional 112,135 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Snap during the first quarter worth approximately $3,233,000. Marshall Wace LLP lifted its position in Snap by 587.3% in the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after purchasing an additional 12,533,653 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Snap by 19.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,018,678 shares of the company’s stock valued at $50,145,000 after purchasing an additional 490,906 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Buying and Selling

In other news, CAO Rebecca Morrow sold 8,923 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30. Following the completion of the sale, the chief accounting officer now owns 472,405 shares in the company, valued at approximately $4,298,885.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Monday, September 30th. The shares were sold at an average price of $10.81, for a total value of $194,580.00. Following the transaction, the general counsel now owns 489,058 shares in the company, valued at $5,286,716.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rebecca Morrow sold 8,923 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.10, for a total transaction of $81,199.30. Following the sale, the chief accounting officer now owns 472,405 shares of the company’s stock, valued at $4,298,885.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,510,352 shares of company stock worth $13,446,353. Corporate insiders own 22.68% of the company’s stock.

Snap Stock Down 2.7 %

Shares of Snap stock opened at $10.74 on Thursday. The firm has a market cap of $17.62 billion, a price-to-earnings ratio of -13.26 and a beta of 1.01. The stock has a 50-day simple moving average of $9.72 and a 200-day simple moving average of $12.74. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. On average, equities research analysts expect that Snap Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SNAP has been the subject of several research analyst reports. B. Riley initiated coverage on Snap in a report on Friday, September 20th. They issued a “neutral” rating and a $11.00 price objective for the company. Wolfe Research started coverage on shares of Snap in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. HSBC downgraded shares of Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Piper Sandler restated a “neutral” rating and set a $12.00 target price (down from $15.00) on shares of Snap in a report on Friday, August 2nd. Finally, Truist Financial dropped their price target on Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.77.

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.