RiverPark Advisors LLC Boosts Holdings in Snap Inc. (NYSE:SNAP)

RiverPark Advisors LLC grew its position in shares of Snap Inc. (NYSE:SNAP) by 20.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,387 shares of the company’s stock after purchasing an additional 14,164 shares during the period. RiverPark Advisors LLC’s holdings in Snap were worth $892,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SNAP. Vanguard Group Inc. increased its stake in Snap by 0.9% during the first quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock valued at $1,103,786,000 after purchasing an additional 830,889 shares during the last quarter. Capital World Investors increased its stake in Snap by 0.8% during the first quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock valued at $531,206,000 after purchasing an additional 385,191 shares during the last quarter. Marshall Wace LLP increased its stake in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after purchasing an additional 12,533,653 shares during the last quarter. Ossiam increased its stake in Snap by 7.1% during the first quarter. Ossiam now owns 11,334,804 shares of the company’s stock valued at $130,124,000 after purchasing an additional 751,846 shares during the last quarter. Finally, TB Alternative Assets Ltd. increased its stake in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the transaction, the chief technology officer now directly owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. This represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $9.30, for a total value of $167,400.00. Following the transaction, the general counsel now owns 456,662 shares of the company’s stock, valued at $4,246,956.60. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,221,220 shares of company stock valued at $14,659,201 over the last 90 days. 22.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SNAP has been the subject of several analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 price target on shares of Snap in a report on Wednesday, October 30th. Roth Mkm reissued a “neutral” rating and set a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. The Goldman Sachs Group boosted their price target on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. B. Riley upped their price objective on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus price target of $14.31.

Snap Trading Down 1.5 %

Shares of NYSE SNAP opened at $10.60 on Friday. The business has a 50 day simple moving average of $10.68 and a 200 day simple moving average of $12.67. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) EPS. As a group, sell-side analysts forecast that Snap Inc. will post -0.41 earnings per share for the current fiscal year.

About Snap

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.