Groupama Asset Managment Purchases New Holdings in Snap Inc. (NYSE:SNAP)

Groupama Asset Managment purchased a new stake in Snap Inc. (NYSE:SNAP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,217,946 shares of the company’s stock, valued at approximately $13,032,000. Groupama Asset Managment owned about 0.07% of Snap as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Marshall Wace LLP boosted its holdings in Snap by 587.3% in 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 during the last quarter. TB Alternative Assets Ltd. raised its stake in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after buying an additional 4,098,847 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after buying an additional 2,386,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Snap by 49.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after buying an additional 1,297,348 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Snap by 19.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,018,678 shares of the company’s stock valued at $50,145,000 after buying an additional 490,906 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

SNAP has been the topic of several research reports. Truist Financial upped their price objective on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald upped their price objective on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim restated a “buy” rating and set a $12.11 price objective on shares of Snap in a research note on Tuesday, December 3rd. B. Riley upped their price objective on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Snap in a research note on Thursday. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Snap presently has an average rating of “Hold” and a consensus price target of $37.10.

Insider Transactions at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the completion of the sale, the chief technology officer now directly owns 57,210,989 shares of the company’s stock, valued at $715,137,362.50. This trade represents a 1.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joanna Coles sold 6,434 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total value of $77,208.00. Following the sale, the director now directly owns 54,761 shares of the company’s stock, valued at approximately $657,132. This represents a 10.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,406,709 shares of company stock valued at $16,662,107 in the last three months.

Snap Stock Up 2.2 %

Shares of NYSE SNAP opened at $12.44 on Monday. The stock has a fifty day moving average price of $11.23 and a two-hundred day moving average price of $12.16. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the company posted ($0.21) EPS. As a group, equities analysts forecast that Snap Inc. will post -0.4 earnings per share for the current fiscal 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.