Snap Inc. (NYSE:SNAP) Shares Sold by Brighton Jones LLC

Brighton Jones LLC lowered its position in Snap Inc. (NYSE:SNAP) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,039 shares of the company’s stock after selling 1,753 shares during the quarter. Brighton Jones LLC’s holdings in Snap were worth $499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SRS Investment Management LLC lifted its stake in shares of 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 acquiring an additional 12,452,415 shares in the last quarter. Carmignac Gestion purchased a new stake in Snap during the 4th quarter worth approximately $110,103,000. Contrarius Investment Management Ltd acquired a new position in shares of Snap in the 4th quarter valued at approximately $80,644,000. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 3,503,230 shares during the last quarter. Finally, TB Alternative Assets Ltd. grew its position in shares of Snap by 144.5% during the first quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock worth $58,488,000 after buying an additional 3,011,400 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Stock Down 0.2 %

SNAP stock opened at $10.05 on Friday. The firm’s 50-day moving average is $10.58 and its two-hundred day moving average is $12.82. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of -12.41 and a beta of 1.00. Snap Inc. has a 52 week low of $8.28 and a 52 week high of $17.90. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74.

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

Insider Activity

In related news, CAO Rebecca Morrow sold 8,923 shares of Snap stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30. Following the transaction, the chief accounting officer now directly owns 472,405 shares of the company’s stock, valued at $4,298,885.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Rebecca Morrow sold 8,923 shares of the firm’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 transaction of $81,199.30. Following the completion of the sale, the chief accounting officer now directly owns 472,405 shares in the company, valued at $4,298,885.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth Jenkins sold 9,965 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.19, for a total value of $91,578.35. Following the completion of the transaction, the director now directly owns 40,406 shares in the company, valued at approximately $371,331.14. The disclosure for this sale can be found here. Insiders sold a total of 1,511,540 shares of company stock worth $13,569,906 over the last 90 days. 22.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. B. Riley assumed coverage on shares of Snap in a report on Friday. They issued a “neutral” rating and a $11.00 price target on the stock. Truist Financial reduced their price target on shares of Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Wolfe Research started coverage on Snap in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, HSBC lowered Snap from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Snap presently has an average rating of “Hold” and a consensus price target 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.