Snap Inc. (NYSE:SNAP) Stock Holdings Raised by Virtu Financial LLC

Virtu Financial LLC increased its position in Snap Inc. (NYSE:SNAP) by 314.6% in the second quarter, Holdings Channel reports. The firm owned 85,220 shares of the company’s stock after purchasing an additional 64,664 shares during the quarter. Virtu Financial LLC’s holdings in Snap were worth $1,416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SRS Investment Management LLC boosted its holdings in Snap by 23.6% in the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after purchasing an additional 12,452,415 shares during the period. Carmignac Gestion bought a new position in shares of Snap in the 4th quarter worth about $110,103,000. Contrarius Investment Management Ltd acquired a new position in shares of Snap in the 4th quarter valued at about $80,644,000. Vanguard Group Inc. grew its position in shares of Snap by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after buying an additional 3,503,230 shares during the last quarter. Finally, TB Alternative Assets Ltd. raised its stake in Snap by 144.5% during the first quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock worth $58,488,000 after acquiring an additional 3,011,400 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SNAP shares. Wolfe Research assumed coverage on Snap in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Snap from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Susquehanna reduced their price target on shares of Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Snap in a report on Tuesday, August 6th. Finally, Truist Financial cut their price objective on shares of Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Snap has a consensus rating of “Hold” and a consensus price target of $13.87.

Snap Stock Down 2.2 %

NYSE SNAP opened at $9.43 on Wednesday. Snap Inc. has a 12 month low of $8.28 and a 12 month high of $17.90. The company has a market capitalization of $15.64 billion, a P/E ratio of -11.64 and a beta of 1.00. The company’s 50 day simple moving average is $10.97 and its 200 day simple moving average is $12.85. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. Equities research analysts expect that Snap Inc. will post -0.48 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $16.56, for a total transaction of $298,080.00. Following the completion of the sale, the general counsel now directly owns 481,908 shares of the company’s stock, valued at $7,980,396.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now directly owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the completion of the sale, the general counsel now owns 481,908 shares of the company’s stock, valued at approximately $7,980,396.48. The disclosure for this sale can be found here. Insiders have sold 1,352,420 shares of company stock valued at $12,091,682 over the last three months. Company insiders own 22.68% of the company’s stock.

Snap 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.