Los Angeles Capital Management LLC Invests $7.61 Million in Snap Inc. (NYSE:SNAP)

Los Angeles Capital Management LLC bought a new stake in shares of Snap Inc. (NYSE:SNAP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 706,990 shares of the company’s stock, valued at approximately $7,614,000.

Several other institutional investors have also bought and sold shares of the stock. Advisors Asset Management Inc. lifted its stake in Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after acquiring an additional 1,632 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Snap in the fourth quarter valued at about $32,000. Brooklyn Investment Group bought a new position in shares of Snap during the third quarter valued at about $41,000. Blue Trust Inc. boosted its holdings in Snap by 128.0% during the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after purchasing an additional 2,453 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Snap in the 3rd quarter worth about $81,000. Institutional investors own 47.52% of the company’s stock.

Insider Activity

In other news, CFO Derek Andersen sold 17,789 shares of Snap stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.00, for a total transaction of $213,468.00. Following the transaction, the chief financial officer now owns 2,176,017 shares in the company, valued at $26,112,204. This trade represents a 0.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 8,837 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the completion of the sale, the chief accounting officer now owns 429,892 shares of the company’s stock, valued at $4,660,029.28. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 499,471 shares of company stock valued at $5,608,926 in the last ninety days. 22.68% of the stock is currently owned by company insiders.

Snap Stock Down 2.5 %

SNAP stock opened at $10.15 on Thursday. The business’s 50 day moving average price is $11.14 and its two-hundred day moving average price is $10.79. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The company has a market capitalization of $17.21 billion, a price-to-earnings ratio of -24.15 and a beta of 0.99. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on SNAP. Evercore ISI lifted their target price on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Citizens Jmp lowered Snap from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. Susquehanna upped their price objective on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 target price (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $15.00 to $11.00 in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and an average target price of $36.87.

About Snap

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.