Caxton Associates LP acquired a new position in Snap Inc. (NYSE:SNAP) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 7,384 shares of the company’s stock, valued at approximately $386,000.
Several other hedge funds have also recently made changes to their positions in SNAP. Capital Asset Advisory Services LLC bought a new position in shares of Snap during the 4th quarter worth approximately $25,000. Private Capital Group LLC lifted its position in shares of Snap by 200.0% during the 1st quarter. Private Capital Group LLC now owns 540 shares of the company’s stock worth $28,000 after buying an additional 360 shares during the period. Howe & Rusling Inc. bought a new position in shares of Snap during the 1st quarter worth approximately $29,000. First Manhattan Co. lifted its position in shares of Snap by 66.7% during the 1st quarter. First Manhattan Co. now owns 625 shares of the company’s stock worth $32,000 after buying an additional 250 shares during the period. Finally, Ameritas Investment Company LLC bought a new position in shares of Snap during the 1st quarter worth approximately $36,000. Institutional investors own 52.74% of the company’s stock.
In other news, CFO Derek Andersen sold 13,406 shares of the business’s stock in a transaction dated Monday, May 17th. The stock was sold at an average price of $52.87, for a total value of $708,775.22. Following the sale, the chief financial officer now directly owns 1,265,218 shares in the company, valued at $66,892,075.66. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jerry James Hunter sold 10,024 shares of the business’s stock in a transaction dated Monday, July 19th. The shares were sold at an average price of $58.36, for a total value of $585,000.64. Following the completion of the sale, the vice president now owns 1,629,679 shares in the company, valued at $95,108,066.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,207,758 shares of company stock worth $261,476,395.
NYSE:SNAP opened at $63.39 on Thursday. Snap Inc. has a 1 year low of $20.61 and a 1 year high of $73.59. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 1.32. The firm has a 50-day simple moving average of $62.13.
Snap (NYSE:SNAP) last posted its earnings results on Thursday, April 22nd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02. The firm had revenue of $769.58 million during the quarter, compared to analysts’ expectations of $739.61 million. Snap had a negative return on equity of 43.12% and a negative net margin of 32.90%. The company’s revenue was up 66.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) earnings per share. As a group, equities research analysts anticipate that Snap Inc. will post -0.48 earnings per share for the current year.
Snap, Inc engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application.
Read More: What is the quiet period?
Want to see what other hedge funds are holding SNAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap Inc. (NYSE:SNAP).
Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.