Perpetual Ltd Makes New Investment in Snap Inc. (NYSE:SNAP)

Perpetual Ltd acquired a new position in shares of Snap Inc. (NYSE:SNAP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 23,761 shares of the company’s stock, valued at approximately $273,000.

Other hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. boosted its stake in Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after purchasing an additional 1,445 shares during the period. Allworth Financial LP boosted its stake in Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares during the period. ICA Group Wealth Management LLC bought a new stake in Snap during the 4th quarter valued at approximately $51,000. Rakuten Securities Inc. bought a new stake in Snap during the 4th quarter valued at approximately $73,000. Finally, Westpac Banking Corp boosted its stake in Snap by 108.7% during the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after purchasing an additional 2,506 shares during the period. Institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 8,913 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.91, for a total value of $141,805.83. Following the transaction, the chief accounting officer now directly owns 483,743 shares in the company, valued at approximately $7,696,351.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Michael J. O’sullivan sold 12,695 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.91, for a total value of $201,977.45. Following the transaction, the general counsel now directly owns 1,460,617 shares in the company, valued at approximately $23,238,416.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 8,913 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.91, for a total value of $141,805.83. Following the completion of the transaction, the chief accounting officer now owns 483,743 shares in the company, valued at $7,696,351.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,372,583 shares of company stock worth $19,843,735. Insiders own 22.68% of the company’s stock.

Snap Price Performance

SNAP stock opened at $15.50 on Friday. The business has a fifty day moving average price of $14.83 and a 200 day moving average price of $14.15. Snap Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $17.90. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. On average, analysts anticipate that Snap Inc. will post -0.43 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Evercore ISI upped their price target on Snap from $13.00 to $14.00 and gave the company an “in-line” rating in a report on Friday, April 26th. The Goldman Sachs Group upped their price target on Snap from $13.50 to $16.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Benchmark reaffirmed a “hold” rating on shares of Snap in a report on Friday, April 26th. Stifel Nicolaus upped their price target on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Friday, April 26th. Finally, Canaccord Genuity Group upped their price target on Snap from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.82.

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.