Empowered Funds LLC Raises Stake in Snap Inc. (NYSE:SNAP)

Empowered Funds LLC increased its holdings in Snap Inc. (NYSE:SNAP) by 13.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,584 shares of the company’s stock after buying an additional 4,044 shares during the quarter. Empowered Funds LLC’s holdings in Snap were worth $370,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Marshall Wace LLP lifted its holdings in shares of Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after buying an additional 12,533,653 shares during the period. TB Alternative Assets Ltd. lifted its holdings in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after acquiring an additional 4,098,847 shares during the period. Dimensional Fund Advisors LP boosted its position in Snap by 19.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,018,678 shares of the company’s stock worth $50,145,000 after purchasing an additional 490,906 shares in the last quarter. APG Asset Management N.V. boosted its position in Snap by 3.9% in the 2nd quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock worth $45,835,000 after purchasing an additional 112,135 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Snap by 74.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock worth $46,913,000 after purchasing an additional 1,201,565 shares during the period. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the completion of the sale, the chief technology officer now directly owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $9.30, for a total transaction of $167,400.00. Following the completion of the transaction, the general counsel now directly owns 456,662 shares in the company, valued at $4,246,956.60. The trade was a 3.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,406,709 shares of company stock valued at $16,615,487.

Snap Stock Up 1.5 %

Shares of SNAP opened at $11.59 on Tuesday. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a fifty day simple moving average of $10.85 and a two-hundred day simple moving average of $12.44. The company has a market capitalization of $19.44 billion, a PE ratio of -20.00 and a beta of 0.99.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. Snap’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the business earned ($0.21) earnings per share. As a group, equities analysts forecast that Snap Inc. will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Loop Capital boosted their target price on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group increased their target price on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America lifted their price target on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Hsbc Global Res cut Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Benchmark reissued a “hold” rating on shares of Snap in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.31.

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.