Snap Inc. (NYSE:SNAP) Stake Cut by Tairen Capital Ltd

Tairen Capital Ltd decreased its holdings in shares of Snap Inc. (NYSE:SNAP) by 66.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the company’s stock after selling 400,000 shares during the period. Snap comprises about 0.1% of Tairen Capital Ltd’s portfolio, making the stock its 19th largest holding. Tairen Capital Ltd’s holdings in Snap were worth $3,322,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SNAP. Vanguard Group Inc. lifted its holdings in shares of Snap by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock worth $1,103,786,000 after purchasing an additional 830,889 shares during the last quarter. SRS Investment Management LLC increased its position in Snap by 23.6% in the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after buying an additional 12,452,415 shares during the period. Capital World Investors lifted its stake in Snap by 0.8% in the first quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock valued at $531,206,000 after buying an additional 385,191 shares during the last quarter. Ossiam boosted its holdings in shares of Snap by 7.1% during the first quarter. Ossiam now owns 11,334,804 shares of the company’s stock valued at $130,124,000 after acquiring an additional 751,846 shares during the period. Finally, Carmignac Gestion bought a new position in shares of Snap during the fourth quarter worth about $110,103,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $16.56, for a total value of $298,080.00. Following the completion of the transaction, the general counsel now owns 481,908 shares of the company’s stock, valued at approximately $7,980,396.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $16.56, for a total value of $298,080.00. Following the sale, the general counsel now owns 481,908 shares in the company, valued at approximately $7,980,396.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Young sold 114,097 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the sale, the senior vice president now owns 3,041,723 shares in the company, valued at $27,710,096.53. 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 quarter. Corporate insiders own 22.68% of the company’s stock.

Snap Price Performance

Shares of NYSE SNAP opened at $10.05 on Monday. The stock has a market capitalization of $16.49 billion, a PE ratio of -12.41 and a beta of 1.00. Snap Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $17.90. 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 business has a fifty day moving average price of $10.58 and a two-hundred day moving average price of $12.83.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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. As a group, equities analysts predict that Snap Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on SNAP shares. Hsbc Global Res cut shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Morgan Stanley upgraded Snap from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $12.00 to $16.00 in a research report on Tuesday, July 23rd. Benchmark reissued a “hold” rating on shares of Snap in a research note on Tuesday, August 6th. JPMorgan Chase & Co. cut their price objective on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Finally, HSBC downgraded shares of Snap from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.76.

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.