Headlands Technologies LLC Takes Position in Snap Inc. (NYSE:SNAP)

Headlands Technologies LLC acquired a new stake in Snap Inc. (NYSE:SNAP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 16,143 shares of the company’s stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Kovack Advisors Inc. lifted its stake in Snap by 7.9% during the fourth quarter. Kovack Advisors Inc. now owns 27,185 shares of the company’s stock worth $460,000 after purchasing an additional 2,000 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new stake in Snap during the fourth quarter worth approximately $251,000. Harvest Fund Management Co. Ltd lifted its stake in Snap by 3,121.5% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 6,604 shares of the company’s stock worth $112,000 after purchasing an additional 6,399 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in Snap by 609.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 336,658 shares of the company’s stock worth $5,700,000 after purchasing an additional 289,195 shares during the last quarter. Finally, Duality Advisers LP purchased a new stake in Snap during the fourth quarter worth approximately $5,077,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Trading Up 27.6 %

NYSE:SNAP opened at $14.55 on Friday. The stock has a fifty day moving average price of $11.26 and a two-hundred day moving average price of $12.86. The stock has a market capitalization of $24.02 billion, a price-to-earnings ratio of -17.96 and a beta of 1.13. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. Snap Inc. has a 1 year low of $7.86 and a 1 year high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.10. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. As a group, sell-side analysts anticipate that Snap Inc. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SNAP. Susquehanna boosted their target price on Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Canaccord Genuity Group increased their price objective on Snap from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday. Benchmark reissued a “hold” rating on shares of Snap in a report on Friday. TD Cowen increased their price objective on Snap from $11.00 to $14.00 and gave the company a “hold” rating in a report on Friday. Finally, Piper Sandler increased their price objective on Snap from $12.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus price target of $14.67.

Insiders Place Their Bets

In other Snap news, SVP Eric Young sold 120,472 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the sale, the senior vice president now owns 3,540,852 shares of the company’s stock, valued at $39,409,682.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap news, SVP Eric Young sold 120,472 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the sale, the senior vice president now owns 3,540,852 shares of the company’s stock, valued at $39,409,682.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now directly owns 461,005 shares in the company, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 470,482 shares of company stock worth $5,284,091. 22.68% of the stock is owned by corporate insiders.

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.