Senvest Management LLC Invests $10.06 Million in Snap Inc. (NYSE:SNAP)

Senvest Management LLC purchased a new stake in Snap Inc. (NYSE:SNAP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 940,600 shares of the company’s stock, valued at approximately $10,064,000. Senvest Management LLC owned approximately 0.06% of Snap as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in shares of Snap by 1.3% in the third quarter. Cerity Partners LLC now owns 240,208 shares of the company’s stock worth $2,570,000 after purchasing an additional 3,103 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 worth $66,462,000 after buying an additional 2,386,519 shares in the last quarter. Banco Santander S.A. purchased a new stake in Snap in the 3rd quarter valued at $6,334,000. Landscape Capital Management L.L.C. bought a new position in Snap during the 3rd quarter valued at $2,385,000. Finally, Intech Investment Management LLC boosted its holdings in Snap by 1.9% during the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock worth $830,000 after acquiring an additional 1,433 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Insider Activity

In other news, Director Joanna Coles sold 6,434 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total value of $77,208.00. Following the completion of the sale, the director now directly owns 54,761 shares in the company, valued at approximately $657,132. The trade was a 10.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 1,406,709 shares of company stock worth $16,615,487. 22.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on SNAP. Susquehanna cut their price target on shares of Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Barclays cut their target price on Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 target price (up from $12.00) on shares of Snap in a report on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Snap in a report on Friday, October 25th. Finally, 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. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.31.

Snap Price Performance

Snap stock opened at $11.42 on Friday. The business has a 50-day simple moving average of $10.85 and a 200 day simple moving average of $12.50. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. The stock has a market cap of $19.15 billion, a price-to-earnings ratio of -19.69 and a beta of 0.99. 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 (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the business earned ($0.21) earnings per share. Snap’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, research 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.