Point72 Asset Management L.P. Invests $13.77 Million in Snap Inc (NYSE:SNAP)
Point72 Asset Management L.P. bought a new position in shares of Snap Inc (NYSE:SNAP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 843,402 shares of the company’s stock, valued at approximately $13,773,000. Point72 Asset Management L.P. owned about 0.06% of Snap as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC grew its position in shares of Snap by 1.1% during the 4th quarter. Vident Investment Advisory LLC now owns 75,971 shares of the company’s stock worth $1,241,000 after buying an additional 807 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Snap by 6.6% during the fourth quarter. Principal Financial Group Inc. now owns 21,946 shares of the company’s stock worth $358,000 after buying an additional 1,358 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Snap by 4.6% during the fourth quarter. ProShare Advisors LLC now owns 37,468 shares of the company’s stock worth $612,000 after buying an additional 1,661 shares in the last quarter. Moser Wealth Advisors LLC acquired a new stake in shares of Snap in the fourth quarter valued at about $28,000. Finally, CSat Investment Advisory L.P. raised its position in shares of Snap by 13.9% in the fourth quarter. CSat Investment Advisory L.P. now owns 16,920 shares of the company’s stock valued at $276,000 after buying an additional 2,065 shares during the last quarter. Institutional investors and hedge funds own 36.32% of the company’s stock.
In other news, CEO Evan Spiegel sold 369,308 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $18.00, for a total transaction of $6,647,544.00. Following the sale, the chief executive officer now owns 62,562,271 shares of the company’s stock, valued at $1,126,120,878. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jared Grusd sold 17,217 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $9.00, for a total transaction of $154,953.00. Following the completion of the transaction, the insider now directly owns 2,284,982 shares of the company’s stock, valued at approximately $20,564,838. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,152,218 shares of company stock valued at $63,847,226.
NYSE SNAP traded up $0.72 during trading hours on Thursday, reaching $11.95. The company had a trading volume of 19,971,545 shares, compared to its average volume of 30,746,553. The stock has a 50-day moving average of $14.07 and a 200 day moving average of $15.36. Snap Inc has a 1-year low of $7.89 and a 1-year high of $19.75. The company has a current ratio of 5.29, a quick ratio of 5.29 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $15.62 billion, a P/E ratio of -15.93 and a beta of 1.31.
Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $560.90 million for the quarter, compared to the consensus estimate of $561.87 million. Snap had a negative net margin of 60.25% and a negative return on equity of 46.63%. The business’s revenue was up 43.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) EPS. As a group, sell-side analysts predict that Snap Inc will post -0.54 EPS for the current year.
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
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