Profund Advisors LLC Sells 14,765 Shares of Snap Inc (NYSE:SNAP)

Profund Advisors LLC trimmed its holdings in Snap Inc (NYSE:SNAP) by 6.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 205,773 shares of the company’s stock after selling 14,765 shares during the quarter. Profund Advisors LLC’s holdings in Snap were worth $3,360,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Dowling & Yahnke LLC grew its position in Snap by 21.9% in the fourth quarter. Dowling & Yahnke LLC now owns 17,480 shares of the company’s stock worth $285,000 after acquiring an additional 3,146 shares in the last quarter. State Street Corp boosted its holdings in Snap by 0.3% in the 3rd quarter. State Street Corp now owns 7,121,513 shares of the company’s stock valued at $112,520,000 after purchasing an additional 23,480 shares during the period. Polianta Ltd bought a new stake in Snap in the 4th quarter valued at $1,236,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Snap by 12.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 42,465 shares of the company’s stock valued at $693,000 after purchasing an additional 4,623 shares during the period. Finally, CWM LLC boosted its holdings in Snap by 269.4% in the 4th quarter. CWM LLC now owns 9,324 shares of the company’s stock valued at $152,000 after purchasing an additional 6,800 shares during the period. 36.32% of the stock is owned by institutional investors.

In other Snap news, CEO Evan Spiegel sold 369,308 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $18.00, for a total transaction of $6,647,544.00. Following the sale, the chief executive officer now owns 62,562,271 shares of the company’s stock, valued at approximately $1,126,120,878. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stanley J. Meresman sold 27,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $17.62, for a total transaction of $475,740.00. Following the sale, the director now directly owns 154,180 shares in the company, valued at approximately $2,716,651.60. The disclosure for this sale can be found here. Insiders have sold a total of 5,152,218 shares of company stock valued at $63,847,226 in the last quarter.

Shares of Snap stock traded up $0.72 during mid-day trading on Thursday, reaching $11.95. 19,971,545 shares of the stock were exchanged, compared to its average volume of 30,746,553. The company has a market cap of $15.62 billion, a price-to-earnings ratio of -15.93 and a beta of 1.31. The company has a current ratio of 5.29, a quick ratio of 5.29 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $14.07 and a 200 day simple moving average of $15.36. Snap Inc has a fifty-two week low of $7.89 and a fifty-two week high of $19.75.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $560.90 million during the quarter, compared to analysts’ expectations of $561.87 million. Snap had a negative net margin of 60.25% and a negative return on equity of 46.63%. The firm’s revenue for the quarter was up 43.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) EPS. On average, research analysts predict that Snap Inc will post -0.54 EPS for the current fiscal year.

A number of analysts have weighed in on the stock. Jefferies Financial Group raised shares of Snap to a “buy” rating and set a $21.00 price target for the company in a report on Monday, February 3rd. Credit Suisse Group increased their price target on shares of Snap from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Rosenblatt Securities increased their price objective on shares of Snap from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Morgan Stanley increased their price objective on shares of Snap from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Bernstein Bank assumed coverage on shares of Snap in a research note on Friday, January 10th. They issued an “outperform” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Snap presently has a consensus rating of “Buy” and a consensus target price of $18.59.

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.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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