DMC Group LLC Raises Stock Holdings in Snap Inc. (NYSE:SNAP)

DMC Group LLC grew its stake in shares of Snap Inc. (NYSE:SNAP) by 16.4% during the third quarter, Holdings Channel reports. The institutional investor owned 18,132 shares of the company’s stock after buying an additional 2,549 shares during the period. DMC Group LLC’s holdings in Snap were worth $194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SNAP. Marshall Wace LLP lifted its holdings in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after purchasing an additional 12,533,653 shares in the last quarter. TB Alternative Assets Ltd. raised its position in shares of Snap by 144.5% during the 1st quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock valued at $58,488,000 after purchasing an additional 3,011,400 shares during the period. Discovery Capital Management LLC CT purchased a new position in shares of Snap during the 2nd quarter valued at $22,591,000. Assenagon Asset Management S.A. boosted its holdings in Snap by 74.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock worth $46,913,000 after buying an additional 1,201,565 shares during the period. Finally, Curated Wealth Partners LLC increased its stake in Snap by 200.0% in the 2nd quarter. Curated Wealth Partners LLC now owns 536,541 shares of the company’s stock worth $8,912,000 after buying an additional 1,073,082 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Insider Activity at Snap

In other Snap news, SVP Eric Young sold 114,097 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the sale, the senior vice president now owns 3,041,723 shares in the company, valued at $27,710,096.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Snap news, SVP Eric Young sold 114,097 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the transaction, the senior vice president now directly owns 3,041,723 shares in the company, valued at $27,710,096.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the sale, the general counsel now directly owns 489,058 shares of the company’s stock, valued at $5,286,716.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,510,352 shares of company stock worth $13,446,353 in the last quarter. 22.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SNAP shares. Argus upgraded Snap to a “hold” rating in a research report on Thursday, August 8th. Bank of America lowered their price target on Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Snap in a report on Monday, October 7th. Benchmark reiterated a “hold” rating on shares of Snap in a research report on Tuesday, August 6th. Finally, JMP Securities restated a “market perform” rating on shares of Snap in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.77.

Snap Price Performance

SNAP stock opened at $10.49 on Friday. The stock has a market cap of $17.21 billion, a PE ratio of -12.95 and a beta of 1.01. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90. The company has a 50-day moving average price of $9.83 and a 200 day moving average price of $12.71. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Equities research analysts anticipate that Snap Inc. will post -0.47 earnings per share for the current year.

About Snap

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.