Snap Inc. (NYSE:SNAP) Shares Purchased by Clearline Capital LP

Clearline Capital LP boosted its holdings in Snap Inc. (NYSE:SNAP) by 2,337.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 551,206 shares of the company’s stock after acquiring an additional 528,593 shares during the period. Clearline Capital LP’s holdings in Snap were worth $5,898,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. GraniteShares Advisors LLC boosted its position in Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of Snap by 4.0% during the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after acquiring an additional 1,048 shares during the period. Metis Global Partners LLC grew its position in shares of Snap by 6.9% during the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock worth $207,000 after acquiring an additional 1,255 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Snap by 1.9% in the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock worth $830,000 after acquiring an additional 1,433 shares during the period. Finally, DMC Group LLC lifted its position in Snap by 10.5% in the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company’s stock valued at $259,000 after purchasing an additional 1,477 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Stifel Nicolaus dropped their price target on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Citigroup lifted their target price on Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 price target on shares of Snap in a report on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Argus raised shares of Snap to a “hold” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Snap currently has an average rating of “Hold” and an average target price of $14.33.

Snap Trading Up 1.7 %

Shares of NYSE:SNAP opened at $11.81 on Monday. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.90. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $19.81 billion, a P/E ratio of -20.36 and a beta of 0.99. The firm has a fifty day moving average of $11.04 and a two-hundred day moving average of $12.29.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share. On average, equities analysts expect that Snap Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity at Snap

In related news, CAO Rebecca Morrow sold 11,154 shares of Snap stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the sale, the chief accounting officer now owns 465,064 shares of the company’s stock, valued at approximately $4,906,425.20. The trade was a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Derek Andersen sold 97,608 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the transaction, the chief financial officer now owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. This trade represents a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,388,709 shares of company stock valued at $16,448,087. 22.68% of the stock is currently 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.