Caxton Associates LP Makes New $386,000 Investment in Snap Inc. (NYSE:SNAP)

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.

Several equities analysts recently commented on SNAP shares. Cowen raised their target price on Snap from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, April 15th. Deutsche Bank Aktiengesellschaft cut their price objective on Snap from $74.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, April 23rd. Bank of America reiterated a “neutral” rating and issued a $67.00 price objective (down previously from $78.00) on shares of Snap in a research report on Monday, March 29th. KeyCorp cut their price objective on Snap from $87.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, April 23rd. Finally, Wolfe Research assumed coverage on Snap in a research report on Wednesday, March 31st. They issued an “outperform” rating and a $65.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.86.

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 Profile

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.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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