Snap Inc. (NYSE:SNAP) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC boosted its stake in shares of Snap Inc. (NYSE:SNAP) by 37.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 82,143 shares of the company’s stock after purchasing an additional 22,328 shares during the period. Sanctuary Advisors LLC’s holdings in Snap were worth $938,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares during the period. TB Alternative Assets Ltd. boosted its position in Snap by 105.6% in the 3rd 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 in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Snap during the 3rd quarter worth approximately $1,345,000. Invenomic Capital Management LP purchased a new position in shares of Snap during the 3rd quarter valued at approximately $2,349,000. Finally, Dynamic Advisor Solutions LLC purchased a new stake in Snap during the third quarter worth $832,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the transaction, the chief technology officer now owns 57,210,989 shares in the company, 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 is accessible through this hyperlink. Also, CFO Derek Andersen sold 17,789 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $12.00, for a total transaction of $213,468.00. Following the sale, the chief financial officer now owns 2,176,017 shares in the company, valued at approximately $26,112,204. This trade represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,451,618 shares of company stock worth $17,559,617 over the last ninety days. Corporate insiders own 22.68% of the company’s stock.

Snap Stock Up 0.9 %

Shares of SNAP opened at $11.40 on Monday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The firm has a market cap of $19.12 billion, a P/E ratio of -19.65 and a beta of 0.97. The company’s 50-day moving average price is $11.41 and its 200 day moving average price is $11.91. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.75.

Snap (NYSE:SNAP) last released its quarterly earnings results 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. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.21) EPS. On average, sell-side analysts forecast that Snap Inc. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Roth Mkm reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Snap in a report on Wednesday, September 18th. JMP Securities reduced their price target on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, October 30th. Loop Capital raised their price objective on Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Bank of America increased their target price on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $37.10.

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.