Duality Advisers LP Makes New $5.08 Million Investment in Snap Inc. (NYSE:SNAP)

Duality Advisers LP acquired a new stake in shares of Snap Inc. (NYSE:SNAP) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 299,891 shares of the company’s stock, valued at approximately $5,077,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Sowell Financial Services LLC raised its position in shares of Snap by 3.3% during the 4th quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock valued at $392,000 after buying an additional 729 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Snap by 7.4% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,440 shares of the company’s stock valued at $176,000 after buying an additional 930 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of Snap by 4.5% during the 3rd quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock valued at $209,000 after buying an additional 1,017 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Snap by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock valued at $137,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Ethic Inc. grew its holdings in shares of Snap by 13.5% during the 1st quarter. Ethic Inc. now owns 9,184 shares of the company’s stock valued at $331,000 after purchasing an additional 1,089 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

SNAP has been the topic of several recent research reports. Piper Sandler increased their target price on shares of Snap from $12.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Rosenblatt Securities increased their target price on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Royal Bank of Canada reduced their target price on shares of Snap from $17.00 to $13.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 7th. Truist Financial increased their target price on shares of Snap from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets reduced their target price on shares of Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.86.

Insider Buying and Selling

In related news, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the sale, the chief executive officer now owns 3,627,844 shares of the company’s stock, valued at $40,305,346.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the sale, the chief executive officer now owns 3,627,844 shares of the company’s stock, valued at $40,305,346.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the sale, the chief financial officer now directly owns 2,534,689 shares in the company, valued at approximately $27,856,232.11. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock valued at $5,284,091 over the last quarter. Corporate insiders own 22.68% of the company’s stock.

Snap Trading Down 4.0 %

Shares of NYSE SNAP traded down $0.47 during midday trading on Friday, hitting $11.16. 30,405,552 shares of the company traded hands, compared to its average volume of 20,785,288. Snap Inc. has a 12-month low of $7.86 and a 12-month high of $17.90. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The stock has a 50-day moving average price of $11.21 and a 200 day moving average price of $12.78. The firm has a market cap of $18.42 billion, a P/E ratio of -13.45 and a beta of 1.13.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.04. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.39 billion. As a group, analysts expect that Snap Inc. will post -0.58 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.