Snap Inc. (NYSE:SNAP) Shares Bought by Senvest Management LLC

Senvest Management LLC increased its position in shares of Snap Inc. (NYSE:SNAP) by 160.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,448,100 shares of the company’s stock after acquiring an additional 1,507,500 shares during the quarter. Snap makes up about 0.8% of Senvest Management LLC’s portfolio, making the stock its 26th biggest holding. Senvest Management LLC owned approximately 0.15% of Snap worth $26,366,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in shares of Snap during the fourth quarter worth about $1,393,000. Rockefeller Capital Management L.P. grew its position in Snap by 1.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 662,840 shares of the company’s stock worth $7,139,000 after purchasing an additional 6,963 shares during the last quarter. Quinn Opportunity Partners LLC lifted its holdings in shares of Snap by 18.9% during the fourth quarter. Quinn Opportunity Partners LLC now owns 534,560 shares of the company’s stock worth $5,757,000 after purchasing an additional 85,000 shares during the period. TRUE Private Wealth Advisors boosted its holdings in Snap by 2.9% in the 4th quarter. TRUE Private Wealth Advisors now owns 53,466 shares of the company’s stock valued at $576,000 after purchasing an additional 1,525 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Snap in the 4th quarter valued at about $3,291,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNAP has been the subject of a number of research analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $16.00 price target (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Citigroup raised their price target on Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Susquehanna increased their target price on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Guggenheim reissued a “neutral” rating on shares of Snap in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Snap from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.32.

Insider Activity at Snap

In other news, CFO Derek Andersen sold 61,334 shares of Snap stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $664,860.56. Following the completion of the sale, the chief financial officer now directly owns 3,564,235 shares of the company’s stock, valued at approximately $38,636,307.40. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the sale, the general counsel now owns 480,498 shares of the company’s stock, valued at approximately $5,520,922.02. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,356,523 shares of company stock valued at $12,710,077 in the last ninety days. Insiders own 22.68% of the company’s stock.

Snap Price Performance

Shares of Snap stock opened at $7.99 on Monday. The firm has a market cap of $13.55 billion, a P/E ratio of -19.01 and a beta of 0.92. The firm’s 50-day simple moving average is $9.48 and its 200-day simple moving average is $10.67. Snap Inc. has a twelve month low of $7.08 and a twelve month high of $17.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95.

Snap (NYSE:SNAP) last released its quarterly earnings data 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%. As a group, research analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Snap Company Profile

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.