Segantii Capital Management Ltd Makes New Investment in Snap Inc (NYSE:SNAP)

Segantii Capital Management Ltd acquired a new position in Snap Inc (NYSE:SNAP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 177,500 shares of the company’s stock, valued at approximately $2,538,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. FMR LLC lifted its stake in Snap by 2.8% in the fourth quarter. FMR LLC now owns 22,150,589 shares of the company’s stock worth $122,050,000 after purchasing an additional 606,983 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Snap by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 4,810,361 shares of the company’s stock valued at $26,505,000 after acquiring an additional 208,932 shares in the last quarter. Northern Trust Corp raised its stake in shares of Snap by 3.2% during the fourth quarter. Northern Trust Corp now owns 1,455,150 shares of the company’s stock valued at $8,018,000 after acquiring an additional 44,768 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in shares of Snap by 1,687.3% during the first quarter. Miracle Mile Advisors LLC now owns 1,429,858 shares of the company’s stock valued at $15,757,000 after acquiring an additional 1,349,858 shares in the last quarter. Finally, KCL Capital L.P. bought a new stake in shares of Snap during the first quarter valued at approximately $12,122,000. 25.87% of the stock is owned by institutional investors and hedge funds.

SNAP stock traded up $0.35 during trading on Friday, hitting $17.03. 23,794,619 shares of the company’s stock traded hands, compared to its average volume of 36,878,220. The company has a market capitalization of $22.75 billion, a price-to-earnings ratio of -17.56 and a beta of 1.09. The stock’s fifty day moving average price is $15.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.53 and a quick ratio of 4.53. Snap Inc has a 1 year low of $4.82 and a 1 year high of $18.36.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.02. The company had revenue of $388.02 million for the quarter, compared to analyst estimates of $358.16 million. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. Snap’s revenue was up 48.0% compared to the same quarter last year. During the same period last year, the company posted ($0.14) earnings per share. On average, sell-side analysts anticipate that Snap Inc will post -0.71 EPS for the current fiscal year.

In other Snap news, CAO Lara Sweet sold 71,833 shares of Snap stock in a transaction on Monday, June 17th. The shares were sold at an average price of $13.74, for a total value of $986,985.42. Following the transaction, the chief accounting officer now directly owns 1,259,565 shares of the company’s stock, valued at $17,306,423.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeremi Gorman sold 31,108 shares of Snap stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $11.33, for a total transaction of $352,453.64. Following the completion of the transaction, the insider now directly owns 2,902,488 shares in the company, valued at $32,885,189.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,628,552 shares of company stock worth $86,833,634.

Several analysts have recently weighed in on the stock. Wedbush lifted their price target on shares of Snap from $12.25 to $14.75 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Summit Insights raised shares of Snap from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus downgraded shares of Snap from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Aegis reaffirmed a “buy” rating and set a $19.00 price target (up previously from $17.00) on shares of Snap in a research note on Wednesday, July 24th. Finally, Barclays lifted their price target on shares of Snap from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.88.

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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