Everence Capital Management Inc. Acquires Shares of 40,550 Snap Inc. (NYSE:SNAP)

Everence Capital Management Inc. bought a new position in shares of Snap Inc. (NYSE:SNAP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 40,550 shares of the company’s stock, valued at approximately $437,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its stake in shares of Snap by 587.3% in the 2nd 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 during the last quarter. TB Alternative Assets Ltd. lifted its holdings in shares of 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 period. Charles Schwab Investment Management Inc. increased its stake in Snap by 62.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after buying an additional 2,386,519 shares during the period. Discovery Capital Management LLC CT purchased a new position in Snap during the 2nd quarter worth $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted 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 acquiring an additional 1,297,348 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Price Performance

SNAP stock opened at $11.97 on Monday. The stock has a market capitalization of $20.08 billion, a price-to-earnings ratio of -20.64 and a beta of 0.98. 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 Inc. has a 52-week low of $8.29 and a 52-week high of $17.75. The stock’s fifty day simple moving average is $11.54 and its 200-day simple moving average is $11.63.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) EPS. Equities research analysts expect that Snap Inc. will post -0.4 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Eric Young sold 112,020 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00. Following the transaction, the senior vice president now owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. This trade represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total transaction of $195,120.00. Following the sale, the general counsel now owns 498,498 shares of the company’s stock, valued at approximately $5,403,718.32. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,451,618 shares of company stock valued at $17,560,157 over the last quarter. Company insiders own 22.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNAP. Bank of America boosted their price target on shares of Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. B. Riley lifted their price target on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup boosted their target price on shares of Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price target on shares of Snap in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.10.

Snap Company 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.