Snap Inc. (NYSE:SNAP) Position Increased by Marshall Wace LLP

Marshall Wace LLP raised its holdings in shares of Snap Inc. (NYSE:SNAP) by 587.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,667,597 shares of the company’s stock after purchasing an additional 12,533,653 shares during the period. Marshall Wace LLP owned about 0.88% of Snap worth $243,629,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in shares of Snap during the second quarter valued at $33,000. Blue Trust Inc. lifted its holdings in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC acquired a new stake in Snap in the second quarter worth about $40,000. J.Safra Asset Management Corp lifted its holdings in Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock worth $46,000 after purchasing an additional 2,330 shares during the period. Finally, JTC Employer Solutions Trustee Ltd acquired a new stake in Snap in the first quarter worth about $100,000. Institutional investors own 47.52% of the company’s stock.

Snap Stock Performance

SNAP opened at $10.20 on Tuesday. The business’s fifty day moving average is $10.46 and its 200-day moving average is $12.82. The firm has a market cap of $16.74 billion, a P/E ratio of -12.59 and a beta of 1.00. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. Snap Inc. has a 52-week low of $8.28 and a 52-week high of $17.90.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SNAP shares. Barclays reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Snap in a report on Friday, August 2nd. Citigroup cut their price target on shares of Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, Bank of America cut their price target on shares of Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.76.

Insider Activity at Snap

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

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.