Snap Inc. (NYSE:SNAP) Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd lowered its position in shares of Snap Inc. (NYSE:SNAP) by 83.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,713 shares of the company’s stock after selling 97,583 shares during the quarter. WINTON GROUP Ltd’s holdings in Snap were worth $311,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its holdings in shares of Snap by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after purchasing an additional 891 shares during the last quarter. GraniteShares Advisors LLC boosted its holdings in shares of Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares during the last quarter. Charles Schwab Investment Advisory Inc. lifted its holdings in shares of Snap by 2.7% during the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock valued at $411,000 after acquiring an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Snap by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after acquiring an additional 1,048 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Snap by 6.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after acquiring an additional 1,232 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Stock Up 2.7 %

NYSE SNAP opened at $9.67 on Thursday. 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 company’s 50 day simple moving average is $10.82 and its 200 day simple moving average is $12.83. Snap Inc. has a 12 month low of $8.28 and a 12 month high of $17.90. The company has a market capitalization of $15.87 billion, a P/E ratio of -11.94 and a beta of 1.01.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. Equities research analysts expect that Snap Inc. will post -0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America reduced their target price on shares of Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Snap in a report on Tuesday, August 6th. Barclays decreased their price target on shares of Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Wolfe Research initiated coverage on shares of Snap in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, The Goldman Sachs Group reduced their target price on shares of Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.87.

Insider Activity

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the sale, the chief technology officer now owns 58,553,813 shares in the company, valued at $508,832,634.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Snap news, CAO Rebecca Morrow sold 8,923 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.10, for a total value of $81,199.30. Following the transaction, the chief accounting officer now owns 472,405 shares in the company, valued at approximately $4,298,885.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the transaction, the chief technology officer now owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The disclosure for this sale can be found here. Insiders have sold 1,511,540 shares of company stock worth $13,569,906 over the last 90 days. 22.68% of the stock is owned by company insiders.

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.