Catalyst Financial Partners LLC Invests $169,000 in Snap Inc. (NYSE:SNAP)

Catalyst Financial Partners LLC purchased a new stake in Snap Inc. (NYSE:SNAP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,775 shares of the company’s stock, valued at approximately $169,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Marshall Wace LLP increased its stake in shares of Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after acquiring an additional 12,533,653 shares during the last quarter. TB Alternative Assets Ltd. grew its stake in shares of Snap by 105.6% in the 3rd 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 during the period. Discovery Capital Management LLC CT purchased a new position in Snap in the second quarter worth approximately $22,591,000. Assenagon Asset Management S.A. increased its stake in Snap by 74.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock worth $46,913,000 after acquiring an additional 1,201,565 shares during the last quarter. Finally, Curated Wealth Partners LLC increased its stake in Snap by 200.0% during the second quarter. Curated Wealth Partners LLC now owns 536,541 shares of the company’s stock worth $8,912,000 after acquiring an additional 1,073,082 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Buying and Selling at Snap

In other news, CAO Rebecca Morrow sold 8,923 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30. Following the completion of the transaction, the chief accounting officer now directly owns 472,405 shares of the company’s stock, valued at approximately $4,298,885.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Eric Young sold 114,097 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 3,041,723 shares of the company’s stock, valued at $27,710,096.53. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Rebecca Morrow sold 8,923 shares of Snap stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.10, for a total value of $81,199.30. Following the completion of the sale, the chief accounting officer now directly owns 472,405 shares of the company’s stock, valued at approximately $4,298,885.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,490,617 shares of company stock valued at $13,183,890. 22.68% of the stock is owned by corporate insiders.

Snap Trading Down 3.6 %

NYSE SNAP opened at $12.16 on Friday. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The business’s 50-day moving average price is $10.06 and its 200 day moving average price is $12.69. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last released its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 35.63% and a negative net margin of 18.49%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. On average, sell-side analysts predict that Snap Inc. will post -0.47 earnings per share for the current year.

Analyst Ratings Changes

SNAP has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their price target on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a report on Monday, October 14th. Roth Mkm reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. Susquehanna cut their target price on Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Barclays decreased their price target on Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective on shares of Snap in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.25.

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.