Marsico Capital Management LLC Purchases New Holdings in Snap Inc. $SNAP

Marsico Capital Management LLC acquired a new stake in Snap Inc. (NYSE:SNAP) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 696,442 shares of the company’s stock, valued at approximately $5,620,000.

Several other large investors also recently added to or reduced their stakes in SNAP. Allworth Financial LP boosted its position in Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after buying an additional 1,581 shares during the period. Oak Harvest Investment Services purchased a new stake in shares of Snap in the 4th quarter worth approximately $26,000. V Square Quantitative Management LLC purchased a new stake in shares of Snap in the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its position in shares of Snap by 561.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after purchasing an additional 3,071 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Snap in the 3rd quarter worth approximately $39,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Snap news, CFO Douglas Hott sold 124,209 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.60, for a total value of $695,570.40. Following the completion of the transaction, the chief financial officer owned 2,571,149 shares of the company’s stock, valued at approximately $14,398,434.40. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ajit Mohan sold 44,785 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.60, for a total transaction of $250,796.00. Following the transaction, the insider directly owned 5,057,891 shares of the company’s stock, valued at approximately $28,324,189.60. This trade represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 3,021,330 shares of company stock valued at $16,608,998. Corporate insiders own 22.68% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SNAP. Benchmark began coverage on shares of Snap in a research report on Monday, April 27th. They issued a “buy” rating for the company. Royal Bank Of Canada lowered their price target on shares of Snap from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. lowered their price target on shares of Snap from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Thursday, May 7th. The Goldman Sachs Group lowered their price target on shares of Snap from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Finally, Wall Street Zen cut shares of Snap from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.91.

Snap Trading Down 1.2%

NYSE SNAP opened at $5.32 on Friday. The company has a fifty day simple moving average of $5.60 and a two-hundred day simple moving average of $6.17. The stock has a market cap of $8.98 billion, a P/E ratio of -22.15 and a beta of 1.03. Snap Inc. has a 12-month low of $3.81 and a 12-month high of $10.41. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.67.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) EPS. On average, analysts forecast that Snap Inc. will post -0.06 earnings per share for the current 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.