Snap Inc (NYSE:SNAP) Shares Sold by Profund Advisors LLC

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Profund Advisors LLC lowered its holdings in Snap Inc (NYSE:SNAP) by 17.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 310,475 shares of the company’s stock after selling 63,676 shares during the period. Profund Advisors LLC’s holdings in Snap were worth $4,440,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Catalyst Capital Advisors LLC boosted its position in Snap by 38.8% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 2,386 shares of the company’s stock worth $34,000 after acquiring an additional 667 shares during the period. Janney Montgomery Scott LLC increased its stake in Snap by 6.5% in the second quarter. Janney Montgomery Scott LLC now owns 11,340 shares of the company’s stock valued at $162,000 after acquiring an additional 690 shares during the last quarter. Prudential Financial Inc. increased its stake in Snap by 2.5% in the second quarter. Prudential Financial Inc. now owns 28,900 shares of the company’s stock valued at $413,000 after acquiring an additional 700 shares during the last quarter. D.A. Davidson & CO. increased its stake in Snap by 8.2% in the second quarter. D.A. Davidson & CO. now owns 15,336 shares of the company’s stock valued at $219,000 after acquiring an additional 1,166 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Snap by 8.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 18,403 shares of the company’s stock worth $203,000 after purchasing an additional 1,450 shares in the last quarter. Hedge funds and other institutional investors own 26.93% of the company’s stock.

In other news, CFO Derek Andersen sold 49,291 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $13.77, for a total value of $678,737.07. Following the completion of the sale, the chief financial officer now owns 1,501,884 shares of the company’s stock, valued at approximately $20,680,942.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joanna Coles sold 5,631 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $17.00, for a total transaction of $95,727.00. Following the completion of the sale, the director now directly owns 77,893 shares of the company’s stock, valued at approximately $1,324,181. The disclosure for this sale can be found here. Insiders sold a total of 5,729,278 shares of company stock valued at $96,229,935 in the last ninety days.

SNAP stock traded up $0.27 during mid-day trading on Friday, reaching $16.04. The company had a trading volume of 355,203 shares, compared to its average volume of 21,792,322. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.53 and a quick ratio of 4.53. The company has a market capitalization of $20.72 billion, a PE ratio of -16.51 and a beta of 1.12. The firm has a 50 day moving average of $16.37 and a 200 day moving average of $13.23. Snap Inc has a 12 month low of $4.82 and a 12 month high of $18.36.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.02. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The firm had revenue of $388.02 million during the quarter, compared to analysts’ expectations of $358.16 million. During the same quarter in the prior year, the company earned ($0.14) EPS. The company’s revenue was up 48.0% compared to the same quarter last year. Analysts anticipate that Snap Inc will post -0.71 EPS for the current year.

Several brokerages have commented on SNAP. SunTrust Banks boosted their price target on shares of Snap from $11.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Evercore ISI upgraded shares of Snap from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $18.00 to $20.00 in a report on Tuesday, September 3rd. Stifel Nicolaus restated a “buy” rating and issued a $19.00 target price on shares of Snap in a report on Wednesday, September 4th. Wedbush boosted their target price on shares of Snap from $12.25 to $14.75 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Moffett Nathanson restated a “neutral” rating and issued a $10.00 target price (up from $8.00) on shares of Snap in a report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $15.38.

Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

See Also: Net Margin

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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