Tenzing Global Management LLC raised its position in shares of Snap Inc (NYSE:SNAP) by 47.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,475,000 shares of the company’s stock after buying an additional 475,000 shares during the period. Snap comprises 11.2% of Tenzing Global Management LLC’s portfolio, making the stock its 4th biggest position. Tenzing Global Management LLC owned about 0.11% of Snap worth $21,093,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Snap by 8.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 18,403 shares of the company’s stock worth $203,000 after buying an additional 1,450 shares in the last quarter. KCL Capital L.P. acquired a new stake in shares of Snap during the first quarter worth approximately $12,122,000. Aperio Group LLC increased its holdings in shares of Snap by 199.6% during the second quarter. Aperio Group LLC now owns 35,988 shares of the company’s stock worth $515,000 after buying an additional 23,976 shares in the last quarter. Meitav Dash Investments Ltd. bought a new stake in shares of Snap during the first quarter valued at approximately $123,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Snap during the second quarter valued at approximately $278,000. 26.88% of the stock is owned by institutional investors.
Several analysts have recently commented on the stock. Summit Insights raised shares of Snap from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus reissued a “buy” rating and set a $19.00 price target on shares of Snap in a research note on Wednesday, September 4th. Aegis increased their price target on shares of Snap from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday. Guggenheim raised shares of Snap from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Tuesday. Finally, Nomura increased their price target on shares of Snap from $10.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $16.14.
SNAP stock traded down $0.08 during midday trading on Tuesday, reaching $17.04. The company’s stock had a trading volume of 49,276,754 shares, compared to its average volume of 27,907,113. Snap Inc has a 52 week low of $4.82 and a 52 week high of $18.36. The stock has a market cap of $23.50 billion, a PE ratio of -17.57 and a beta of 1.12. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15. The business’s 50-day simple moving average is $16.19 and its 200-day simple moving average is $13.60.
Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $358.16 million. During the same period last year, the firm earned ($0.14) earnings per share. The business’s revenue for the quarter was up 48.0% on a year-over-year basis. As a group, equities analysts forecast that Snap Inc will post -0.71 earnings per share for the current fiscal year.
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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