Partners Capital Investment Group LLP Boosts Stake in Snap Inc. $SNAP

Partners Capital Investment Group LLP increased its stake in Snap Inc. (NYSE:SNAP) by 53.3% in the 3rd quarter, Holdings Channel reports. The fund owned 218,359 shares of the company’s stock after buying an additional 75,918 shares during the quarter. Partners Capital Investment Group LLP’s holdings in Snap were worth $1,684,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in Snap by 169.9% during the second quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock worth $26,000 after purchasing an additional 1,852 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new position in shares of Snap during the 3rd quarter valued at about $53,000. Blue Trust Inc. increased its position in shares of Snap by 61.5% during the 2nd quarter. Blue Trust Inc. now owns 6,633 shares of the company’s stock valued at $58,000 after purchasing an additional 2,525 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of Snap by 826.1% during the 3rd quarter. CoreCap Advisors LLC now owns 9,363 shares of the company’s stock valued at $72,000 after buying an additional 8,352 shares in the last quarter. Finally, West Tower Group LLC bought a new stake in Snap in the 3rd quarter worth approximately $77,000. Institutional investors own 47.52% of the company’s stock.

Snap Stock Performance

NYSE:SNAP opened at $7.63 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.67 and a current ratio of 3.67. Snap Inc. has a fifty-two week low of $6.90 and a fifty-two week high of $11.77. The firm has a market cap of $13.11 billion, a PE ratio of -26.29 and a beta of 0.81. The business has a 50 day moving average price of $7.83 and a 200-day moving average price of $8.03.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.49 billion. Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share. Equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 70,882 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $8.34, for a total transaction of $591,155.88. Following the completion of the transaction, the general counsel directly owned 1,854,982 shares of the company’s stock, valued at approximately $15,470,549.88. This represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $8.00, for a total transaction of $8,000,000.00. Following the sale, the chief technology officer owned 51,911,126 shares of the company’s stock, valued at approximately $415,289,008. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,417,341 shares of company stock worth $11,354,730 over the last ninety days. 22.68% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group reduced their price target on shares of Snap from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Snap from $9.50 to $8.50 and set a “neutral” rating for the company in a report on Tuesday, January 13th. Stifel Nicolaus set a $7.00 target price on shares of Snap in a report on Thursday, November 6th. Wells Fargo & Company lifted their target price on shares of Snap from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Finally, BMO Capital Markets boosted their price target on shares of Snap from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $9.82.

About Snap

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.