Point72 DIFC Ltd Makes New $158,000 Investment in Snap Inc. (NYSE:SNAP)

Point72 DIFC Ltd acquired a new position in Snap Inc. (NYSE:SNAP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,488 shares of the company’s stock, valued at approximately $158,000.

Several other hedge funds have also bought and sold shares of SNAP. Steward Partners Investment Advisory LLC grew its position in shares of Snap by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after buying an additional 891 shares during the last quarter. GraniteShares Advisors LLC increased its position in Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares during the period. Charles Schwab Investment Advisory Inc. raised its holdings in Snap by 2.7% in the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after purchasing an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Snap by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after purchasing an additional 1,048 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Snap by 6.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after buying an additional 1,232 shares during the period. 47.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total value of $239,040.00. Following the transaction, the general counsel now owns 463,908 shares in the company, valued at approximately $6,160,698.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on 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 owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total value of $239,040.00. Following the sale, the general counsel now owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. The disclosure for this sale can be found here. Insiders sold 1,493,540 shares of company stock valued at $13,271,826 in the last 90 days. Company insiders own 22.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SNAP shares. Argus raised shares of Snap to a “hold” rating in a research note on Thursday, August 8th. Piper Sandler restated a “neutral” rating and issued a $12.00 price target (down previously from $15.00) on shares of Snap in a research note on Friday, August 2nd. Barclays reduced their price objective on Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Citigroup dropped their target price on shares of Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, JMP Securities reissued a “market perform” rating on shares of Snap in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.00.

Snap Stock Down 2.7 %

Shares of NYSE SNAP opened at $10.41 on Wednesday. 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 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The company’s 50-day simple moving average is $10.03 and its 200-day simple moving average is $12.77. The firm has a market cap of $17.08 billion, a price-to-earnings ratio of -12.85 and a beta of 1.00.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. Equities analysts predict that Snap Inc. will post -0.47 EPS for the current fiscal year.

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.