Seeyond Buys Shares of 8,019 Snap Inc (NYSE:SNAP)

Seeyond bought a new position in Snap Inc (NYSE:SNAP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,019 shares of the company’s stock, valued at approximately $115,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in Snap by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 4,810,361 shares of the company’s stock worth $26,505,000 after buying an additional 208,932 shares during the last quarter. First Allied Advisory Services Inc. purchased a new position in shares of Snap during the first quarter valued at $115,000. Raymond James & Associates boosted its position in Snap by 116.4% during the first quarter. Raymond James & Associates now owns 197,206 shares of the company’s stock valued at $2,173,000 after purchasing an additional 106,092 shares in the last quarter. Providence Capital Advisors LLC acquired a new stake in Snap in the first quarter worth about $32,000. Finally, Wetherby Asset Management Inc. lifted its holdings in shares of Snap by 54.5% during the first quarter. Wetherby Asset Management Inc. now owns 43,417 shares of the company’s stock worth $478,000 after purchasing an additional 15,316 shares during the period. 26.84% of the stock is currently owned by institutional investors and hedge funds.

SNAP has been the topic of several recent analyst reports. SunTrust Banks upped their price target on Snap from $11.00 to $17.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. UBS Group raised Snap from a “sell” rating to a “neutral” rating and raised their price target for the company from $8.00 to $16.00 in a report on Wednesday, July 24th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Snap in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on Snap from $11.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Canaccord Genuity boosted their price objective on Snap from $13.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $15.38.



In other Snap news, CFO Derek Andersen sold 8,136 shares of Snap stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $15.32, for a total value of $124,643.52. Following the sale, the chief financial officer now directly owns 1,493,748 shares in the company, valued at approximately $22,884,219.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan Spiegel sold 2,780,306 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $18.01, for a total transaction of $50,073,311.06. Following the transaction, the chief executive officer now owns 69,958,498 shares in the company, valued at $1,259,952,548.98. The disclosure for this sale can be found here. In the last three months, insiders sold 5,506,577 shares of company stock valued at $93,167,001.

Shares of NYSE SNAP traded down $0.36 during midday trading on Monday, reaching $15.64. 284,624 shares of the company’s stock were exchanged, compared to its average volume of 21,766,058. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.53 and a current ratio of 4.53. The stock has a market capitalization of $21.75 billion, a PE ratio of -16.11 and a beta of 1.12. Snap Inc has a 52-week low of $4.82 and a 52-week high of $18.36. The business’s fifty day moving average price is $16.34 and its two-hundred day moving average price is $13.26.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating 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 company had revenue of $388.02 million for the quarter, compared to the consensus estimate of $358.16 million. During the same period in the previous year, the business earned ($0.14) EPS. The company’s revenue was up 48.0% on a year-over-year basis. Analysts predict that Snap Inc will post -0.71 earnings per share for the current fiscal year.

About Snap

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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