PDT Partners LLC Has $4.86 Million Stock Holdings in Snap Inc. (NYSE:SNAP)

PDT Partners LLC decreased its stake in shares of Snap Inc. (NYSE:SNAP) by 14.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 451,300 shares of the company’s stock after selling 77,003 shares during the period. PDT Partners LLC’s holdings in Snap were worth $4,861,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC bought a new stake in shares of Snap during the fourth quarter worth $157,000. AQR Capital Management LLC lifted its holdings in Snap by 8.4% in the fourth quarter. AQR Capital Management LLC now owns 5,370,108 shares of the company’s stock valued at $57,836,000 after buying an additional 414,224 shares during the period. Lido Advisors LLC acquired a new position in Snap in the fourth quarter valued at approximately $434,000. Northern Trust Corp boosted its stake in Snap by 11.7% in the fourth quarter. Northern Trust Corp now owns 4,245,811 shares of the company’s stock valued at $45,727,000 after acquiring an additional 445,952 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Snap by 1.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock valued at $661,000 after buying an additional 1,033 shares during the period. Institutional investors own 47.52% of the company’s stock.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 24,000 shares of Snap stock in a transaction on Monday, March 31st. The shares were sold at an average price of $8.60, for a total value of $206,400.00. Following the completion of the sale, the general counsel now directly owns 507,660 shares of the company’s stock, valued at approximately $4,365,876. The trade was a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Derek Andersen sold 61,334 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $664,860.56. Following the transaction, the chief financial officer now directly owns 3,564,235 shares in the company, valued at $38,636,307.40. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,356,523 shares of company stock worth $12,710,077. 22.68% of the stock is currently owned by insiders.

Snap Stock Up 3.6 %

Shares of NYSE SNAP opened at $8.85 on Tuesday. Snap Inc. has a 52 week low of $7.08 and a 52 week high of $17.33. The stock’s fifty day moving average is $8.86 and its 200 day moving average is $10.46. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The stock has a market capitalization of $15.01 billion, a P/E ratio of -21.07 and a beta of 0.92.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Sell-side analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SNAP has been the subject of a number of recent analyst reports. UBS Group lowered their price target on Snap from $14.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Barclays reiterated an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. BMO Capital Markets restated an “outperform” rating and set a $16.00 target price (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. The Goldman Sachs Group reduced their price target on shares of Snap from $13.50 to $9.50 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Morgan Stanley cut their price objective on shares of Snap from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, twenty-one have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.92.

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.