Militia Capital Management LLC Takes Position in Snap Inc. $SNAP

Militia Capital Management LLC bought a new stake in shares of Snap Inc. (NYSE:SNAP) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 441,700 shares of the company’s stock, valued at approximately $2,032,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Alyeska Investment Group L.P. bought a new stake in Snap in the third quarter valued at approximately $176,697,000. AQR Capital Management LLC boosted its stake in shares of Snap by 874.3% during the fourth quarter. AQR Capital Management LLC now owns 10,066,852 shares of the company’s stock valued at $81,239,000 after purchasing an additional 9,033,644 shares during the period. Empyrean Capital Partners LP bought a new position in shares of Snap in the first quarter worth approximately $25,300,000. Voloridge Investment Management LLC grew its holdings in shares of Snap by 53.3% in the third quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock worth $79,420,000 after purchasing an additional 3,582,223 shares during the last quarter. Finally, Saba Capital Management L.P. grew its holdings in shares of Snap by 232.5% in the first quarter. Saba Capital Management L.P. now owns 4,727,808 shares of the company’s stock worth $21,748,000 after purchasing an additional 3,306,024 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SNAP shares. UBS Group lowered their price target on shares of Snap from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Monday, July 13th. TD Cowen began coverage on shares of Snap in a report on Monday, April 27th. They issued a “buy” rating on the stock. Wall Street Zen lowered shares of Snap from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Rosenblatt Securities restated a “neutral” rating and issued a $6.40 price objective on shares of Snap in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada lowered their price objective on shares of Snap from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twenty-five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.23.

Insider Activity at Snap

In related news, CTO Robert C. Murphy sold 2,000,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $5.44, for a total value of $10,880,000.00. Following the completion of the transaction, the chief technology officer directly owned 47,012,324 shares of the company’s stock, valued at $255,747,042.56. This represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Zachary M. Briers sold 129,493 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.60, for a total transaction of $725,160.80. Following the completion of the sale, the general counsel owned 2,644,538 shares of the company’s stock, valued at $14,809,412.80. This trade represents a 4.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,868,059 shares of company stock valued at $15,855,631 over the last three months. Corporate insiders own 22.68% of the company’s stock.

Snap Stock Performance

NYSE:SNAP opened at $4.71 on Monday. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.67. The firm’s fifty day simple moving average is $4.97 and its 200 day simple moving average is $5.36. The stock has a market cap of $7.96 billion, a P/E ratio of -19.65 and a beta of 1.05. Snap Inc. has a twelve month low of $3.81 and a twelve month high of $9.77.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, research analysts predict that Snap Inc. will post -0.07 EPS for the current year.

Snap Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.