21,500 Shares in Snap Inc. (NYSE:SNAP) Bought by nVerses Capital LLC

nVerses Capital LLC acquired a new position in shares of Snap Inc. (NYSE:SNAP) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 21,500 shares of the company’s stock, valued at approximately $357,000.

A number of other hedge funds have also recently made changes to their positions in SNAP. Atria Wealth Solutions Inc. purchased a new stake in shares of Snap during the 4th quarter worth $251,000. Russell Investments Group Ltd. increased its position in Snap by 39.4% during the 4th quarter. Russell Investments Group Ltd. now owns 208,845 shares of the company’s stock valued at $3,541,000 after buying an additional 58,986 shares in the last quarter. New York Life Investment Management LLC increased its position in Snap by 15.7% during the 4th quarter. New York Life Investment Management LLC now owns 16,994 shares of the company’s stock valued at $288,000 after buying an additional 2,311 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in Snap by 3.3% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock valued at $533,000 after buying an additional 1,000 shares in the last quarter. Finally, Spire Wealth Management increased its position in Snap by 17.1% during the 4th quarter. Spire Wealth Management now owns 10,257 shares of the company’s stock valued at $168,000 after buying an additional 1,500 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of Snap in a research report on Tuesday, August 6th. Argus raised Snap to a “hold” rating in a research report on Thursday, August 8th. Bank of America cut their price objective on Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Susquehanna cut their price objective on Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Citigroup cut their price objective on Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.10.

Snap Price Performance

Shares of NYSE SNAP traded up $0.12 during midday trading on Friday, hitting $9.34. The stock had a trading volume of 17,230,554 shares, compared to its average volume of 29,633,610. Snap Inc. has a 1 year low of $8.28 and a 1 year high of $17.90. The company has a market capitalization of $15.50 billion, a PE ratio of -11.53 and a beta of 1.03. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The stock has a 50 day simple moving average of $12.71 and a 200-day simple moving average of $13.01.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. On average, sell-side analysts expect that Snap Inc. will post -0.48 EPS for the current fiscal year.

Insider Activity

In other news, Director Joanna Coles sold 3,950 shares of Snap stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $15.17, for a total value of $59,921.50. Following the completion of the sale, the director now directly owns 46,492 shares of the company’s stock, valued at $705,283.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Joanna Coles sold 3,950 shares of Snap stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $15.17, for a total value of $59,921.50. Following the completion of the transaction, the director now directly owns 46,492 shares in the company, valued at $705,283.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the transaction, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,338,370 shares of company stock valued at $11,984,203. 22.68% of the stock is currently owned by corporate insiders.

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.