3,770,605 Shares in Snap Inc. $SNAP Bought by Junto Capital Management LP

Junto Capital Management LP bought a new position in shares of Snap Inc. (NYSE:SNAP) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,770,605 shares of the company’s stock, valued at approximately $29,071,000.

A number of other hedge funds also recently bought and sold shares of the company. Holocene Advisors LP increased its stake in shares of Snap by 895.9% in the third quarter. Holocene Advisors LP now owns 3,560,234 shares of the company’s stock worth $27,449,000 after purchasing an additional 3,202,737 shares during the period. Freestone Grove Partners LP acquired a new position in shares of Snap during the 3rd quarter worth about $10,375,000. Dimensional Fund Advisors LP boosted its stake in Snap by 27.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,117,858 shares of the company’s stock valued at $47,224,000 after purchasing an additional 1,335,830 shares during the period. Contrarius Group Holdings Ltd bought a new stake in Snap during the 3rd quarter valued at approximately $10,256,000. Finally, Capital World Investors grew its holdings in Snap by 1.5% in the 3rd quarter. Capital World Investors now owns 87,272,463 shares of the company’s stock valued at $672,896,000 after buying an additional 1,316,448 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Evercore reaffirmed a “mixed” rating on shares of Snap in a research report on Thursday, February 5th. TD Cowen lowered their price objective on shares of Snap from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Snap in a research report on Wednesday, January 21st. Morgan Stanley cut their target price on shares of Snap from $9.50 to $6.50 and set an “equal weight” rating for the company in a research note on Sunday, February 22nd. Finally, Mizuho reduced their price target on shares of Snap from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.17.

Insider Transactions at Snap

In other Snap news, CAO Rebecca Morrow sold 16,499 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total transaction of $77,545.30. Following the completion of the transaction, the chief accounting officer directly owned 466,682 shares in the company, valued at $2,193,405.40. This represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Derek Andersen sold 63,041 shares of Snap stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total value of $296,292.70. Following the transaction, the chief financial officer directly owned 3,892,617 shares of the company’s stock, valued at approximately $18,295,299.90. The trade was a 1.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 2,519,487 shares of company stock valued at $13,384,277.

Snap Stock Down 1.7%

NYSE SNAP opened at $4.57 on Monday. Snap Inc. has a 1-year low of $4.52 and a 1-year high of $10.41. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of -16.94 and a beta of 0.83. The stock’s 50 day moving average is $6.21 and its two-hundred day moving average is $7.27. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 1.53.

Snap (NYSE:SNAP) last issued its earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. Snap had a negative return on equity of 20.72% and a negative net margin of 7.76%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. Equities analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Snap Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.