Landscape Capital Management L.L.C. Purchases Shares of 222,851 Snap Inc. (NYSE:SNAP)

Landscape Capital Management L.L.C. acquired a new position in shares of Snap Inc. (NYSE:SNAP) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 222,851 shares of the company’s stock, valued at approximately $2,385,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SNAP. Russell Investments Group Ltd. grew its holdings in Snap by 31.9% during the 1st quarter. Russell Investments Group Ltd. now owns 275,539 shares of the company’s stock worth $3,160,000 after acquiring an additional 66,694 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Snap by 12.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 110,654 shares of the company’s stock worth $1,240,000 after purchasing an additional 12,300 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in shares of Snap by 92.2% during the first quarter. UniSuper Management Pty Ltd now owns 14,800 shares of the company’s stock worth $170,000 after purchasing an additional 7,100 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Snap by 10.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 1,052,741 shares of the company’s stock valued at $12,099,000 after buying an additional 102,129 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its stake in Snap by 92.3% in the first quarter. EP Wealth Advisors LLC now owns 38,973 shares of the company’s stock valued at $447,000 after buying an additional 18,710 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JMP Securities lowered their price objective on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price target (up from $12.00) on shares of Snap in a report on Wednesday, October 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price target on shares of Snap in a research note on Wednesday, October 30th. Cantor Fitzgerald boosted their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Citigroup dropped their target price on shares of Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Snap presently has an average rating of “Hold” and an average target price of $14.31.

Insider Activity at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the sale, the chief technology officer now directly owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. The trade was a 1.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joanna Coles sold 6,434 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the transaction, the director now owns 54,761 shares of the company’s stock, valued at $657,132. This represents a 10.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,356,709 shares of company stock worth $16,088,487 over the last 90 days. Company insiders own 22.68% of the company’s stock.

Snap Price Performance

Snap stock opened at $10.62 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The business has a 50 day simple moving average of $10.79 and a 200-day simple moving average of $12.55. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90. The stock has a market capitalization of $17.81 billion, a PE ratio of -18.30 and a beta of 0.99.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. Snap’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.21) EPS. Equities analysts predict that Snap Inc. will post -0.41 earnings per share for the current 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.