TB Alternative Assets Ltd. Has $58.49 Million Stake in Snap Inc. (NYSE:SNAP)

TB Alternative Assets Ltd. raised its stake in shares of Snap Inc. (NYSE:SNAP) by 144.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,094,800 shares of the company’s stock after purchasing an additional 3,011,400 shares during the period. Snap accounts for approximately 14.6% of TB Alternative Assets Ltd.’s holdings, making the stock its biggest position. TB Alternative Assets Ltd. owned 0.31% of Snap worth $58,488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC raised its position in shares of Snap by 12.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock valued at $683,000 after buying an additional 4,307 shares in the last quarter. Carmignac Gestion purchased a new stake in shares of Snap during the 4th quarter valued at about $110,103,000. TCW Group Inc. purchased a new stake in shares of Snap during the 4th quarter valued at about $275,000. V Square Quantitative Management LLC raised its position in Snap by 72.7% in the 4th quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after purchasing an additional 4,679 shares during the period. Finally, Vanguard Group Inc. raised its position in Snap by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after purchasing an additional 1,352,655 shares during the period. Institutional investors own 47.52% of the company’s stock.

Snap Price Performance

SNAP traded up $0.06 during trading on Wednesday, hitting $16.77. The stock had a trading volume of 12,854,244 shares, compared to its average volume of 28,880,094. Snap Inc. has a twelve month low of $8.28 and a twelve month high of $17.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76. The stock has a 50 day simple moving average of $15.06 and a two-hundred day simple moving average of $14.16.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. As a group, research analysts forecast that Snap Inc. will post -0.43 EPS for the current fiscal year.

Insider Transactions at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Monday, April 29th. The shares were sold at an average price of $14.27, for a total transaction of $14,270,000.00. Following the completion of the sale, the chief technology officer now directly owns 59,894,865 shares in the company, valued at $854,699,723.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the transaction, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $14.27, for a total transaction of $14,270,000.00. Following the transaction, the chief technology officer now directly owns 59,894,865 shares of the company’s stock, valued at approximately $854,699,723.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,372,583 shares of company stock worth $19,843,735. Company insiders own 22.68% of the company’s stock.

Analyst Ratings Changes

SNAP has been the topic of a number of recent analyst reports. Roth Mkm reissued a “neutral” rating and issued a $14.00 price objective on shares of Snap in a research report on Tuesday, April 23rd. Morgan Stanley increased their price objective on shares of Snap from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Friday, April 26th. Benchmark reissued a “hold” rating on shares of Snap in a research report on Friday, April 26th. Stifel Nicolaus increased their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, Evercore ISI increased their price objective on shares of Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.82.

Snap 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.