Snap Inc. (NYSE:SNAP) Shares Purchased by nVerses Capital LLC

nVerses Capital LLC boosted its stake in Snap Inc. (NYSE:SNAP) by 277.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,100 shares of the company’s stock after acquiring an additional 59,600 shares during the period. nVerses Capital LLC’s holdings in Snap were worth $868,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SNAP. Marshall Wace LLP boosted its holdings in 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 in the last quarter. Vanguard Group Inc. lifted its stake in Snap by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after buying an additional 3,503,230 shares in the last quarter. TB Alternative Assets Ltd. raised its holdings in Snap by 144.5% in the 1st quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock valued at $58,488,000 after acquiring an additional 3,011,400 shares during the last quarter. Discovery Capital Management LLC CT acquired a new position in Snap in the 2nd quarter valued at $22,591,000. Finally, Assenagon Asset Management S.A. raised its holdings in Snap by 74.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock valued at $46,913,000 after acquiring an additional 1,201,565 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SNAP. Bank of America cut their price target on Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Barclays dropped their price objective on Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Piper Sandler reiterated a “neutral” rating and issued a $12.00 price target (down from $15.00) on shares of Snap in a report on Friday, August 2nd. The Goldman Sachs Group decreased their price objective on shares of Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.77.

Insider Buying and Selling at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total transaction of $239,040.00. Following the transaction, the general counsel now owns 463,908 shares in the company, valued at approximately $6,160,698.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total value of $239,040.00. Following the sale, the general counsel now directly owns 463,908 shares in the company, valued at $6,160,698.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now owns 58,553,813 shares in the company, valued at $508,832,634.97. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,510,352 shares of company stock valued at $13,446,353 in the last quarter. Company insiders own 22.68% of the company’s stock.

Snap Trading Down 2.4 %

Snap stock traded down $0.26 during midday trading on Thursday, reaching $10.50. The stock had a trading volume of 12,442,746 shares, compared to its average volume of 26,899,445. The firm’s fifty day simple moving average is $9.77 and its two-hundred day simple moving average is $12.72. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The firm has a market cap of $17.23 billion, a price-to-earnings ratio of -13.26 and a beta of 1.01.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. Equities analysts anticipate that Snap Inc. will post -0.47 EPS for the current fiscal year.

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.