TB Alternative Assets Ltd. Trims Stock Position in Snap Inc. (NYSE:SNAP)

TB Alternative Assets Ltd. decreased its position in shares of Snap Inc. (NYSE:SNAP) by 47.2% during the fourth quarter, HoldingsChannel reports. The firm owned 4,214,512 shares of the company’s stock after selling 3,767,335 shares during the period. Snap makes up approximately 11.7% of TB Alternative Assets Ltd.’s holdings, making the stock its 2nd biggest holding. TB Alternative Assets Ltd.’s holdings in Snap were worth $45,390,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Snap in the 3rd quarter worth approximately $29,000. Paladin Wealth LLC bought a new position in shares of Snap in the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. raised its holdings in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares in the last quarter. Brooklyn Investment Group purchased a new position in Snap during the 3rd quarter valued at about $41,000. Finally, Quest Partners LLC purchased a new position in shares of Snap during the third quarter valued at approximately $81,000. Institutional investors own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Truist Financial upped their price target on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Piper Sandler restated a “neutral” rating and issued a $13.00 price target (up previously from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Benchmark reaffirmed a “hold” rating on shares of Snap in a research report on Friday, October 25th. Citigroup boosted their target price on Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, Canaccord Genuity Group raised their price target on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.99.

Snap Stock Performance

Shares of SNAP opened at $10.86 on Tuesday. The business’s 50 day moving average is $11.51 and its 200 day moving average is $11.26. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.50.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping 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 net margin of 18.49% and a negative return on equity of 35.60%. Snap’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Equities research analysts expect that Snap Inc. will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In related news, CAO Rebecca Morrow sold 11,154 shares of Snap stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the transaction, the chief accounting officer now owns 465,064 shares in the company, valued at approximately $4,906,425.20. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total value of $195,120.00. Following the sale, the general counsel now owns 498,498 shares in the company, valued at approximately $5,403,718.32. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,451,618 shares of company stock worth $17,560,157 in the last quarter.

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.