Snap Inc. (NYSE:SNAP) Shares Acquired by PDT Partners LLC

PDT Partners LLC increased its position in shares of Snap Inc. (NYSE:SNAP) by 87.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 528,303 shares of the company’s stock after buying an additional 247,175 shares during the period. Snap makes up about 0.5% of PDT Partners LLC’s investment portfolio, making the stock its 19th biggest position. PDT Partners LLC’s holdings in Snap were worth $5,653,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNAP. Marshall Wace LLP increased its position in shares of Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after acquiring an additional 12,533,653 shares during the last quarter. TB Alternative Assets Ltd. increased its holdings in Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Snap by 62.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after purchasing an additional 2,386,519 shares in the last quarter. Discovery Capital Management LLC CT purchased a new position in shares of Snap during the 2nd quarter valued at approximately $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Snap by 49.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after buying an additional 1,297,348 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel Michael J. O’sullivan sold 59,053 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $548,602.37. Following the sale, the general counsel now directly owns 1,258,278 shares in the company, valued at $11,689,402.62. The trade was a 4.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Eric Young sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $10.54, for a total transaction of $527,000.00. Following the sale, the senior vice president now directly owns 752,110 shares of the company’s stock, valued at approximately $7,927,239.40. This represents a 6.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,388,709 shares of company stock worth $16,448,087 over the last ninety days. Company insiders own 22.68% of the company’s stock.

Wall Street Analysts Forecast Growth

SNAP has been the topic of several recent analyst reports. Barclays cut their price target on shares of Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Benchmark restated a “hold” rating on shares of Snap in a research note on Friday, October 25th. JMP Securities decreased their price target on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company cut their price objective on Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Finally, Truist Financial lifted their target price on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.39.

Snap Price Performance

Shares of SNAP opened at $11.81 on Friday. The firm has a market capitalization of $19.80 billion, a price-to-earnings ratio of -20.35 and a beta of 0.99. The stock’s fifty day moving average is $11.04 and its 200-day moving average is $12.34. Snap Inc. has a one year low of $8.29 and a one year high of $17.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

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

About Snap

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.