125,661 Shares in Snap Inc. (NYSE:SNAP) Acquired by Aigen Investment Management LP

Aigen Investment Management LP bought a new stake in Snap Inc. (NYSE:SNAP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 125,661 shares of the company’s stock, valued at approximately $1,345,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. GraniteShares Advisors LLC lifted its holdings in Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock worth $634,000 after buying an additional 941 shares during the period. Charles Schwab Investment Advisory Inc. increased its holdings in Snap by 2.7% in the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after purchasing an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in Snap by 4.0% in the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after buying an additional 1,048 shares during the period. DMC Group LLC grew its position in shares of Snap by 10.5% during the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company’s stock worth $259,000 after buying an additional 1,477 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after acquiring an additional 1,682 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Piper Sandler restated a “neutral” rating and issued a $13.00 price target (up from $12.00) on shares of Snap in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price target on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company cut their price objective on Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. JMP Securities decreased their target price on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Argus upgraded shares of Snap to a “hold” rating in a research report on Thursday, August 8th. One 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.31.

Snap Trading Down 1.3 %

Shares of NYSE SNAP traded down $0.15 during trading hours on Tuesday, hitting $11.81. The company’s stock had a trading volume of 1,855,566 shares, compared to its average volume of 27,667,459. The business has a 50-day simple moving average of $10.51 and a 200-day simple moving average of $12.76. The stock has a market cap of $19.81 billion, a price-to-earnings ratio of -20.60 and a beta of 0.99. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted ($0.21) earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. On average, analysts anticipate that Snap Inc. will post -0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Joanna Coles sold 6,434 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total value of $77,208.00. Following the completion of the transaction, the director now owns 54,761 shares of the company’s stock, valued at approximately $657,132. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joanna Coles sold 6,434 shares of Snap stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the transaction, the director now directly owns 54,761 shares of the company’s stock, valued at $657,132. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 8,923 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.10, for a total value of $81,199.30. Following the completion of the sale, the chief accounting officer now directly owns 472,405 shares in the company, valued at approximately $4,298,885.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,365,051 shares of company stock worth $15,965,178 over the last three months. Company insiders own 22.68% of the company’s stock.

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.