Snap Inc. (NYSE:SNAP) Position Increased by Prentice Capital Management LP

Prentice Capital Management LP grew its position in Snap Inc. (NYSE:SNAP) by 53.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 576,834 shares of the company’s stock after buying an additional 200,000 shares during the quarter. Snap accounts for approximately 13.7% of Prentice Capital Management LP’s holdings, making the stock its 3rd biggest holding. Prentice Capital Management LP’s holdings in Snap were worth $6,172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SNAP. Hollencrest Capital Management purchased a new stake in Snap in the 2nd quarter valued at approximately $33,000. Blue Trust Inc. increased its position in Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Snap during the 2nd quarter worth about $40,000. V Square Quantitative Management LLC acquired a new position in Snap in the 3rd quarter valued at about $29,000. Finally, Paladin Wealth LLC purchased a new position in Snap in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. B. Riley boosted their price target on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. UBS Group upped their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company decreased their price target on shares of Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Stifel Nicolaus lowered their price objective on shares of Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Finally, Bank of America increased their target price on Snap from $13.00 to $14.00 and gave the stock 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 assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.91.

Insider Buying and Selling

In other news, CFO Derek Andersen sold 97,608 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the sale, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at approximately $21,255,241.30. This represents a 4.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Eric Young sold 112,020 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $1,181,811.00. Following the sale, the senior vice president now directly owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. The trade was a 3.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,406,709 shares of company stock valued at $16,662,107.

Snap Trading Up 6.3 %

Shares of NYSE SNAP opened at $12.87 on Wednesday. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $21.59 billion, a P/E ratio of -22.19 and a beta of 0.97. The stock’s 50 day moving average price is $11.12 and its two-hundred day moving average price is $12.24.

Snap (NYSE:SNAP) last released its quarterly earnings data 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 net margin of 18.49% and a negative return on equity of 35.60%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company 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 -0.4 earnings per share for the current fiscal year.

Snap 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.