Segantii Capital Management Ltd bought a new stake in Snap Inc (NYSE:SNAP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 125,000 shares of the company’s stock, valued at approximately $1,826,000. Snap makes up approximately 0.6% of Segantii Capital Management Ltd’s investment portfolio, making the stock its 24th biggest position.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. WFG Advisors LP raised its stake in shares of Snap by 52.4% in the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock valued at $131,000 after purchasing an additional 2,537 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Snap by 22.9% in the third quarter. Rhumbline Advisers now owns 22,900 shares of the company’s stock valued at $333,000 after purchasing an additional 4,260 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Snap by 30.7% in the third quarter. IFP Advisors Inc now owns 20,605 shares of the company’s stock valued at $300,000 after purchasing an additional 4,838 shares in the last quarter. Wedbush Securities Inc. raised its stake in Snap by 45.1% during the third quarter. Wedbush Securities Inc. now owns 17,925 shares of the company’s stock worth $261,000 after acquiring an additional 5,575 shares in the last quarter. Finally, First Manhattan Co. raised its stake in Snap by 384.5% during the third quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock worth $110,000 after acquiring an additional 6,056 shares in the last quarter. Institutional investors and hedge funds own 18.98% of the company’s stock.
Snap Inc (SNAP) opened at $18.63 on Tuesday. The stock has a market capitalization of $22,640.07 and a PE ratio of -5.63. Snap Inc has a 1-year low of $11.28 and a 1-year high of $29.44.
In other Snap news, Director Mitchell Lasky sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $12.38, for a total transaction of $309,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Andrew Vollero sold 94,781 shares of the firm’s stock in a transaction dated Saturday, February 17th. The stock was sold at an average price of $18.51, for a total value of $1,754,396.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,205,407 shares of company stock worth $32,265,178.
Several research firms have issued reports on SNAP. Oppenheimer increased their price objective on Snap from $14.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Summit Redstone upgraded Snap from a “sell” rating to a “hold” rating and set a $16.00 price objective for the company in a research note on Wednesday, February 7th. Vetr lowered Snap from a “strong-buy” rating to a “buy” rating and set a $22.73 price objective for the company. in a research note on Thursday, February 8th. Aegis reiterated a “hold” rating and set a $18.00 price objective (up from $13.00) on shares of Snap in a research note on Thursday, February 8th. Finally, Pivotal Research reiterated a “sell” rating and set a $10.00 price objective on shares of Snap in a research note on Thursday, February 8th. Fourteen analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $18.25.
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Snap Company Profile
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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