Senvest Management LLC Takes $10.06 Million Position in Snap Inc. (NYSE:SNAP)

Senvest Management LLC bought a new position in Snap Inc. (NYSE:SNAP) during the 3rd quarter, HoldingsChannel reports. The fund bought 940,600 shares of the company’s stock, valued at approximately $10,064,000.

Several other hedge funds also recently made changes to their positions in SNAP. Hollencrest Capital Management purchased a new position in shares of Snap in the second quarter valued at about $33,000. Blue Trust Inc. increased its holdings in Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC bought a new position in Snap during the 2nd quarter valued at approximately $40,000. V Square Quantitative Management LLC purchased a new stake in Snap in the 3rd quarter worth approximately $29,000. Finally, Paladin Wealth LLC purchased a new stake in Snap in the 3rd quarter worth approximately $30,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the completion of the sale, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at $715,137,362.50. This represents a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $9.30, for a total transaction of $167,400.00. Following the completion of the transaction, the general counsel now directly owns 456,662 shares in the company, valued at approximately $4,246,956.60. The trade was a 3.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,406,709 shares of company stock worth $16,615,487. Company insiders own 22.68% of the company’s stock.

Snap Price Performance

Shares of NYSE SNAP opened at $11.42 on Friday. The firm has a market cap of $19.15 billion, a P/E ratio of -19.69 and a beta of 0.99. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.90. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The company has a 50 day moving average of $10.85 and a 200 day moving average of $12.50.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The company’s revenue was up 15.4% on a year-over-year basis. As a group, research analysts expect that Snap Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Hsbc Global Res downgraded Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Roth Mkm restated a “neutral” rating and issued a $14.00 price objective on shares of Snap in a report on Wednesday, September 18th. Canaccord Genuity Group lifted their target price on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Barclays decreased their price target on shares of Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Argus raised Snap to a “hold” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.31.

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.