Capital Fund Management S.A. Takes $1.73 Million Position in Snap Inc (SNAP)

Capital Fund Management S.A. purchased a new position in shares of Snap Inc (NYSE:SNAP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 132,271 shares of the company’s stock, valued at approximately $1,731,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its stake in shares of Snap by 188.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 10,041 shares of the company’s stock worth $131,000 after purchasing an additional 6,556 shares during the period. North Star Investment Management Corp. grew its stake in shares of Snap by 283.0% during the 2nd quarter. North Star Investment Management Corp. now owns 10,150 shares of the company’s stock worth $133,000 after purchasing an additional 7,500 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Snap during the 1st quarter worth approximately $134,000. Greenwood Capital Associates LLC acquired a new stake in shares of Snap during the 2nd quarter worth approximately $138,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Snap during the 2nd quarter worth approximately $138,000. 22.29% of the stock is owned by institutional investors.

In other news, VP Lara Sweet sold 10,268 shares of Snap stock in a transaction on Monday, July 16th. The stock was sold at an average price of $13.18, for a total transaction of $135,332.24. Following the transaction, the vice president now owns 620,358 shares in the company, valued at approximately $8,176,318.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mitchell Lasky sold 25,000 shares of Snap stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $13.41, for a total value of $335,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,621,960 shares of company stock worth $40,169,549.

SNAP traded down $0.03 on Friday, hitting $7.77. 31,018,023 shares of the company’s stock were exchanged, compared to its average volume of 25,829,000. Snap Inc has a fifty-two week low of $7.56 and a fifty-two week high of $21.22. The stock has a market cap of $10.83 billion, a PE ratio of -3.74 and a beta of -2.59.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.18. Snap had a negative net margin of 155.31% and a negative return on equity of 49.79%. The company had revenue of $262.26 million for the quarter, compared to analysts’ expectations of $247.24 million. On average, sell-side analysts predict that Snap Inc will post -1.07 EPS for the current year.

SNAP has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Snap from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Wedbush raised shares of Snap from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $11.50 to $12.25 in a research note on Tuesday, September 11th. Cowen dropped their price objective on shares of Snap from $9.00 to $8.00 and set an “underperform” rating on the stock in a research note on Friday, July 13th. Pivotal Research reaffirmed a “sell” rating and set a $9.00 price objective on shares of Snap in a research note on Wednesday, August 8th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $12.00 price objective on shares of Snap in a research note on Wednesday, August 8th. Ten analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company. Snap presently has an average rating of “Hold” and an average price target of $14.40.

Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows to creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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