Intech Investment Management LLC Acquires 1,433 Shares of Snap Inc. (NYSE:SNAP)

Intech Investment Management LLC increased its holdings in Snap Inc. (NYSE:SNAP) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,592 shares of the company’s stock after acquiring an additional 1,433 shares during the quarter. Intech Investment Management LLC’s holdings in Snap were worth $830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. EULAV Asset Management grew its holdings in Snap by 47.1% in the third quarter. EULAV Asset Management now owns 890,000 shares of the company’s stock worth $9,523,000 after purchasing an additional 285,000 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Snap by 49.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after buying an additional 1,297,348 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Snap during the 3rd quarter valued at approximately $288,000. Finally, Caprock Group LLC raised its stake in Snap by 20.6% during the third quarter. Caprock Group LLC now owns 75,198 shares of the company’s stock valued at $805,000 after buying an additional 12,838 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 97,608 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the transaction, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at approximately $21,255,241.30. The trade was a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,388,709 shares of company stock worth $16,448,087 over the last quarter. Insiders own 22.68% of the company’s stock.

Snap Price Performance

NYSE:SNAP opened at $11.61 on Friday. The business’s 50-day simple moving average is $10.97 and its two-hundred day simple moving average is $12.37. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. The stock has a market cap of $19.47 billion, a PE ratio of -20.02 and a beta of 0.99. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company earned ($0.21) EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, analysts forecast that Snap Inc. will post -0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SNAP. Wells Fargo & Company dropped their price target on shares of Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Argus raised Snap to a “hold” rating in a report on Thursday, August 8th. B. Riley upped their price target on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Hsbc Global Res downgraded Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.31.

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.