321,134 Shares in Snap Inc. (NYSE:SNAP) Bought by Holocene Advisors LP

Holocene Advisors LP purchased a new stake in shares of Snap Inc. (NYSE:SNAP) during the third quarter, HoldingsChannel reports. The fund purchased 321,134 shares of the company’s stock, valued at approximately $3,436,000.

Several other large investors have also made changes to their positions in SNAP. Clearline Capital LP grew its stake in Snap by 2,337.6% during the third quarter. Clearline Capital LP now owns 551,206 shares of the company’s stock valued at $5,898,000 after acquiring an additional 528,593 shares in the last quarter. Founders Fund VI Management LLC purchased a new position in shares of Snap during the third quarter valued at about $97,000. TRUE Private Wealth Advisors increased its holdings in shares of Snap by 3.5% in the third quarter. TRUE Private Wealth Advisors now owns 51,941 shares of the company’s stock worth $556,000 after purchasing an additional 1,749 shares during the last quarter. Circle Wealth Management LLC purchased a new stake in shares of Snap in the third quarter worth about $325,000. Finally, PDT Partners LLC boosted its stake in Snap by 87.9% during the third quarter. PDT Partners LLC now owns 528,303 shares of the company’s stock valued at $5,653,000 after buying an additional 247,175 shares during the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Snap

In related news, General Counsel Michael J. O’sullivan sold 59,053 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $548,602.37. Following the completion of the sale, the general counsel now owns 1,258,278 shares of the company’s stock, valued at approximately $11,689,402.62. The trade was a 4.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joanna Coles sold 6,434 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total transaction of $77,208.00. Following the transaction, the director now directly owns 54,761 shares in the company, valued at approximately $657,132. The trade was a 10.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,406,709 shares of company stock worth $16,662,107 in the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

SNAP has been the topic of a number of research reports. Argus raised Snap to a “hold” rating in a research note on Thursday, August 8th. UBS Group boosted their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated a “neutral” rating and set a $13.00 price objective (up previously from $12.00) on shares of Snap in a research report on Wednesday, October 30th. Citigroup lifted their price objective on shares of Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Finally, Evercore ISI upped their target price on shares of Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus target price of $37.10.

Snap Stock Down 3.7 %

SNAP stock opened at $12.16 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 firm’s fifty day simple moving average is $11.20 and its 200-day simple moving average is $12.24. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90. The company has a market capitalization of $20.39 billion, a P/E ratio of -20.96 and a beta of 0.97.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the business earned ($0.21) earnings per share. The company’s revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts forecast that Snap Inc. will post -0.4 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.