Columbus Hill Capital Management L.P. Takes $4.59 Million Position in Snap Inc. (NYSE:SNAP)

Columbus Hill Capital Management L.P. acquired a new position in shares of Snap Inc. (NYSE:SNAP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 425,800 shares of the company’s stock, valued at approximately $4,586,000. Snap comprises approximately 0.9% of Columbus Hill Capital Management L.P.’s holdings, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of SNAP. Norges Bank purchased a new stake in shares of Snap in the fourth quarter valued at about $30,162,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Snap during the 4th quarter worth approximately $21,639,000. Groupama Asset Managment purchased a new stake in shares of Snap during the 3rd quarter valued at approximately $13,032,000. Assenagon Asset Management S.A. lifted its holdings in Snap by 51.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock valued at $33,244,000 after acquiring an additional 1,050,501 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Snap in the fourth quarter worth approximately $7,614,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $11.49, for a total value of $206,820.00. Following the transaction, the general counsel now directly owns 480,498 shares of the company’s stock, valued at approximately $5,520,922.02. The trade was a 3.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Derek Andersen sold 61,334 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $664,860.56. Following the completion of the sale, the chief financial officer now owns 3,564,235 shares of the company’s stock, valued at $38,636,307.40. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,356,523 shares of company stock worth $12,710,077 in the last quarter. Company insiders own 22.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Susquehanna upped their price target on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Wells Fargo & Company decreased their target price on shares of Snap from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, March 31st. JMP Securities reissued a “market outperform” rating and issued a $16.00 price target on shares of Snap in a research note on Monday, January 27th. Citizens Jmp raised shares of Snap from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Finally, Citigroup lifted their target price on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.80.

Snap Price Performance

SNAP stock opened at $8.06 on Friday. The business has a 50 day simple moving average of $9.95 and a 200-day simple moving average of $10.77. The company has a market capitalization of $13.66 billion, a P/E ratio of -19.18 and a beta of 0.92. Snap Inc. has a twelve month low of $7.66 and a twelve month high of $17.33. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, equities analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

About Snap

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.