Snap Inc. $SNAP Stock Holdings Trimmed by Contrarius Group Holdings Ltd

Contrarius Group Holdings Ltd reduced its position in Snap Inc. (NYSE:SNAP) by 39.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 799,959 shares of the company’s stock after selling 530,247 shares during the quarter. Contrarius Group Holdings Ltd’s holdings in Snap were worth $6,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. LPL Financial LLC raised its position in shares of Snap by 6.3% during the 4th quarter. LPL Financial LLC now owns 474,926 shares of the company’s stock valued at $3,833,000 after acquiring an additional 28,081 shares in the last quarter. Capital World Investors raised its position in shares of Snap by 1.4% during the 4th quarter. Capital World Investors now owns 88,452,006 shares of the company’s stock valued at $713,808,000 after acquiring an additional 1,179,543 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Snap during the 4th quarter valued at approximately $41,000. Parallel Advisors LLC raised its position in shares of Snap by 10.1% during the 4th quarter. Parallel Advisors LLC now owns 34,847 shares of the company’s stock valued at $281,000 after acquiring an additional 3,198 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Snap by 44.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 219,769 shares of the company’s stock worth $1,773,000 after buying an additional 67,297 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Stock Down 0.0%

SNAP stock opened at $5.76 on Monday. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.67. Snap Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $10.41. The firm’s 50-day simple moving average is $5.50 and its 200 day simple moving average is $6.24. The stock has a market cap of $9.72 billion, a PE ratio of -23.99 and a beta of 1.03.

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

Insider Activity at Snap

In other news, insider Ajit Mohan sold 44,785 shares of Snap stock in a transaction that occurred 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 sale, the insider owned 5,057,891 shares of the company’s stock, valued at approximately $28,324,189.60. The trade was a 0.88% 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, CFO Douglas Hott sold 114,702 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $5.67, for a total value of $650,360.34. Following the transaction, the chief financial officer owned 2,456,447 shares of the company’s stock, valued at $13,928,054.49. This trade represents a 4.46% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 3,021,330 shares of company stock valued at $16,608,998.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNAP. Loop Capital set a $8.00 price target on shares of Snap in a research report on Monday, February 23rd. Stifel Nicolaus lifted their target price on Snap from $4.50 to $5.25 and gave the company a “hold” rating in a research note on Tuesday, April 21st. Benchmark started coverage on Snap in a research note on Monday, April 27th. They issued a “buy” rating for the company. Freedom Capital downgraded Snap from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Canaccord Genuity Group decreased their target price on Snap from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.91.

Snap Company 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.