Snap Inc (NYSE:SNAP) Shares Sold by Profund Advisors LLC

Profund Advisors LLC lowered its holdings in Snap Inc (NYSE:SNAP) by 17.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 310,475 shares of the company’s stock after selling 63,676 shares during the period. Profund Advisors LLC’s holdings in Snap were worth $4,440,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SNAP. Geode Capital Management LLC boosted its position in Snap by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 4,810,361 shares of the company’s stock worth $26,505,000 after acquiring an additional 208,932 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Snap by 5.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,274,764 shares of the company’s stock worth $46,830,000 after purchasing an additional 162,278 shares in the last quarter. Northern Trust Corp boosted its stake in Snap by 91.5% in the second quarter. Northern Trust Corp now owns 2,952,119 shares of the company’s stock worth $42,216,000 after purchasing an additional 1,410,618 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Snap in the second quarter worth $36,518,000. Finally, Renaissance Technologies LLC boosted its stake in Snap by 761.1% in the second quarter. Renaissance Technologies LLC now owns 2,375,000 shares of the company’s stock worth $33,963,000 after purchasing an additional 2,099,200 shares in the last quarter. Hedge funds and other institutional investors own 26.93% of the company’s stock.

In related news, CEO Evan Spiegel sold 1,470,495 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.87, for a total transaction of $23,336,755.65. Following the completion of the sale, the chief executive officer now owns 67,859,616 shares of the company’s stock, valued at $1,076,932,105.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Lynton sold 130,949 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $18.00, for a total transaction of $2,357,082.00. Following the sale, the director now directly owns 77,086 shares of the company’s stock, valued at approximately $1,387,548. The disclosure for this sale can be found here. Insiders have sold 5,729,278 shares of company stock valued at $96,229,935 in the last three months.

Snap stock traded up $0.27 during trading hours on Friday, hitting $16.04. The company had a trading volume of 355,203 shares, compared to its average volume of 21,792,322. The firm has a market cap of $20.72 billion, a P/E ratio of -16.51 and a beta of 1.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.53 and a current ratio of 4.53. Snap Inc has a 1 year low of $4.82 and a 1 year high of $18.36. The company has a 50-day moving average price of $16.37 and a two-hundred day moving average price of $13.23.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.02. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The firm had revenue of $388.02 million during the quarter, compared to analysts’ expectations of $358.16 million. During the same quarter in the prior year, the company earned ($0.14) EPS. The company’s revenue was up 48.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Snap Inc will post -0.71 EPS for the current year.

A number of equities analysts have commented on SNAP shares. Stifel Nicolaus reissued a “buy” rating and issued a $19.00 price objective on shares of Snap in a research note on Wednesday, September 4th. Pivotal Research restated a “buy” rating and issued a $20.50 price target on shares of Snap in a report on Wednesday, July 24th. Royal Bank of Canada restated a “buy” rating and issued a $20.00 price target on shares of Snap in a report on Wednesday, July 24th. Loop Capital increased their price target on Snap to $15.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, BTIG Research increased their price target on Snap from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $15.38.

Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

See Also: Net Margin

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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