DMC Group LLC Takes $162,000 Position in Snap Inc. (NYSE:SNAP)

DMC Group LLC acquired a new stake in Snap Inc. (NYSE:SNAP) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,106 shares of the company’s stock, valued at approximately $162,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC lifted its stake in Snap by 12.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock valued at $683,000 after purchasing an additional 4,307 shares during the last quarter. Carmignac Gestion acquired a new stake in Snap in the 4th quarter valued at about $110,103,000. TCW Group Inc. acquired a new stake in Snap in the 4th quarter valued at about $275,000. V Square Quantitative Management LLC lifted its position in Snap by 72.7% during the fourth quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after acquiring an additional 4,679 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Snap by 1.5% during the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after acquiring an additional 1,352,655 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Trading Down 3.1 %

NYSE SNAP opened at $15.75 on Thursday. The firm’s fifty day moving average price is $15.68 and its two-hundred day moving average price is $14.17. Snap Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $17.90. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations 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, sell-side analysts forecast that Snap Inc. will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.56, for a total transaction of $298,080.00. Following the sale, the general counsel now owns 481,908 shares of the company’s stock, valued at $7,980,396.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the sale, the general counsel now owns 481,908 shares of the company’s stock, valued at $7,980,396.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’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 completion of the sale, the chief technology officer now directly owns 59,894,865 shares in the company, valued at approximately $854,699,723.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,372,583 shares of company stock valued at $19,934,275.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Rosenblatt Securities raised their price objective on shares of Snap from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Roth Mkm restated a “neutral” rating and set a $14.00 price objective on shares of Snap in a research report on Tuesday, April 23rd. Stifel Nicolaus raised 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, The Goldman Sachs Group raised their price objective on shares of Snap from $13.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Snap currently has an average rating of “Hold” and a consensus target price of $14.82.

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.