XTX Topco Ltd Takes Position in Snap Inc. (NYSE:SNAP)

XTX Topco Ltd purchased a new position in Snap Inc. (NYSE:SNAP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 51,649 shares of the company’s stock, valued at approximately $858,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNAP. SRS Investment Management LLC increased its holdings in Snap by 23.6% during the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after purchasing an additional 12,452,415 shares during the last quarter. Carmignac Gestion bought a new stake in shares of Snap in the fourth quarter worth $110,103,000. Contrarius Investment Management Ltd acquired a new stake in Snap in the fourth quarter valued at $80,644,000. Vanguard Group Inc. boosted its stake in Snap by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after acquiring an additional 3,503,230 shares during the last quarter. Finally, TB Alternative Assets Ltd. grew its holdings in Snap by 144.5% during the 1st quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock worth $58,488,000 after acquiring an additional 3,011,400 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $16.56, for a total transaction of $298,080.00. Following the completion of the sale, the general counsel now owns 481,908 shares in the company, valued at approximately $7,980,396.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were 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 directly owns 481,908 shares in the company, valued at $7,980,396.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Eric Young sold 114,097 shares of the business’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 transaction of $1,039,423.67. Following the sale, the senior vice president now owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,511,540 shares of company stock worth $13,569,906. Corporate insiders own 22.68% of the company’s stock.

Snap Stock Down 0.2 %

SNAP opened at $10.05 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The company has a market capitalization of $16.68 billion, a PE ratio of -12.41 and a beta of 1.00. The stock’s fifty day moving average is $10.58 and its 200-day moving average is $12.82. Snap Inc. has a one year low of $8.28 and a one year high of $17.90.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNAP. JPMorgan Chase & Co. cut their target price 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. Citigroup reduced their target price on Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Piper Sandler reiterated a “neutral” rating and issued a $12.00 target price (down previously from $15.00) on shares of Snap in a research report on Friday, August 2nd. Hsbc Global Res cut Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Truist Financial decreased their price objective on shares of Snap from $16.00 to $13.00 and set a “hold” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.76.

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.