Metis Global Partners LLC Buys 1,255 Shares of Snap Inc. (NYSE:SNAP)

Metis Global Partners LLC raised its stake in shares of Snap Inc. (NYSE:SNAP) by 6.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,352 shares of the company’s stock after purchasing an additional 1,255 shares during the quarter. Metis Global Partners LLC’s holdings in Snap were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SNAP. Vanguard Group Inc. raised its position in shares of Snap by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock valued at $1,103,786,000 after buying an additional 830,889 shares in the last quarter. Capital World Investors increased its stake in Snap by 0.8% in the first quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock valued at $531,206,000 after acquiring an additional 385,191 shares during the last quarter. Marshall Wace LLP raised its position in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after purchasing an additional 12,533,653 shares in the last quarter. TB Alternative Assets Ltd. lifted its stake in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Snap by 19.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,018,678 shares of the company’s stock worth $50,145,000 after purchasing an additional 490,906 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap Price Performance

SNAP stock opened at $10.50 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a 50 day moving average price of $10.76 and a 200-day moving average price of $12.57. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The firm has a market capitalization of $17.61 billion, a price-to-earnings ratio of -18.10 and a beta of 0.99.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts forecast that Snap Inc. will post -0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Stifel Nicolaus decreased their price objective on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Argus raised shares of Snap to a “hold” rating in a report on Thursday, August 8th. Barclays lowered their price target on shares of Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald upped their price target on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Hsbc Global Res downgraded Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.31.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $9.30, for a total value of $167,400.00. Following the transaction, the general counsel now directly owns 456,662 shares of the company’s stock, valued at approximately $4,246,956.60. This represents a 3.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the sale, the chief technology officer now directly owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,221,220 shares of company stock worth $14,659,201 in the last quarter.

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.