Perpetual Ltd Purchases Shares of 23,761 Snap Inc. (NYSE:SNAP)

Perpetual Ltd purchased a new stake in shares of Snap Inc. (NYSE:SNAP) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 23,761 shares of the company’s stock, valued at approximately $273,000.

A number of other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC boosted its position in shares of Snap by 82.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 45,243 shares of the company’s stock worth $403,000 after purchasing an additional 20,471 shares in the last quarter. Kestra Advisory Services LLC boosted its position in shares of Snap by 54.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 18,776 shares of the company’s stock worth $167,000 after purchasing an additional 6,654 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Snap during the 3rd quarter worth about $132,000. Northern Trust Corp boosted its position in shares of Snap by 0.3% during the 3rd quarter. Northern Trust Corp now owns 4,091,981 shares of the company’s stock worth $36,460,000 after purchasing an additional 10,583 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Snap by 12.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,490 shares of the company’s stock worth $102,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Trading Up 0.7 %

Shares of SNAP stock opened at $15.50 on Friday. The company has a 50 day moving average of $14.83 and a 200-day moving average of $14.15. The company has a debt-to-equity ratio of 1.55, a quick ratio of 3.76 and a current ratio of 3.76. Snap Inc. has a 12-month low of $8.28 and a 12-month high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.10. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. As a group, analysts predict that Snap Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Eric Young sold 115,915 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total value of $1,844,207.65. Following the completion of the transaction, the senior vice president now directly owns 3,292,657 shares of the company’s stock, valued at approximately $52,386,172.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Snap news, SVP Eric Young sold 115,915 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total value of $1,844,207.65. Following the completion of the transaction, the senior vice president now directly owns 3,292,657 shares of the company’s stock, valued at approximately $52,386,172.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the transaction, the general counsel now directly owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,372,583 shares of company stock valued at $19,843,735. Company insiders own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Snap from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Benchmark restated a “hold” rating on shares of Snap in a report on Friday, April 26th. Evercore ISI upped their target price on shares of Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a report on Friday, April 26th. Canaccord Genuity Group upped their target price on shares of Snap from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada upped their target price on shares of Snap from $13.00 to $16.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.82.

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.