Militia Capital Partners LP Reduces Position in Snap Inc. $SNAP

Militia Capital Partners LP lessened its holdings in shares of Snap Inc. (NYSE:SNAP) by 83.4% during the 4th quarter, HoldingsChannel reports. The fund owned 149,190 shares of the company’s stock after selling 748,010 shares during the quarter. Militia Capital Partners LP’s holdings in Snap were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Rakuten Investment Management Inc. boosted its stake in shares of Snap by 259.8% during the 4th quarter. Rakuten Investment Management Inc. now owns 45,613 shares of the company’s stock worth $359,000 after acquiring an additional 32,936 shares during the last quarter. Alberta Investment Management Corp purchased a new position in shares of Snap during the 4th quarter worth $1,434,000. OMERS ADMINISTRATION Corp boosted its stake in shares of Snap by 16.8% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 191,461 shares of the company’s stock worth $1,545,000 after acquiring an additional 27,515 shares during the last quarter. MYDA Advisors LLC purchased a new position in shares of Snap during the 4th quarter worth $404,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Snap by 402.4% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,972 shares of the company’s stock worth $8,974,000 after acquiring an additional 890,624 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling

In other Snap news, CAO Rebecca Morrow sold 16,729 shares of Snap stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.60, for a total value of $93,682.40. Following the sale, the chief accounting officer directly owned 512,811 shares in the company, valued at approximately $2,871,741.60. The trade was a 3.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ajit Mohan sold 44,785 shares of Snap stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.60, for a total transaction of $250,796.00. Following the completion of the sale, the insider owned 5,057,891 shares in the company, valued at approximately $28,324,189.60. This represents a 0.88% 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 sold a total of 2,900,631 shares of company stock worth $16,054,989 in the last 90 days.

Snap Stock Performance

Shares of NYSE SNAP opened at $5.13 on Wednesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.53 and a current ratio of 3.53. The company has a market cap of $8.66 billion, a P/E ratio of -21.36 and a beta of 1.03. The firm’s fifty day moving average is $5.64 and its two-hundred day moving average is $6.12. Snap Inc. has a 52-week low of $3.81 and a 52-week high of $10.41.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The business’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. As a group, analysts anticipate that Snap Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SNAP shares. UBS Group set a $8.00 price target on shares of Snap in a research note on Thursday, May 7th. Benchmark started coverage on shares of Snap in a research note on Monday, April 27th. They set a “buy” rating on the stock. Wall Street Zen cut shares of Snap from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Royal Bank Of Canada dropped their price target on shares of Snap from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Snap from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Snap currently has an average rating of “Hold” and an average price target of $7.91.

About Snap

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.