Hillhouse Capital Advisors LTD. Purchases New Holdings in Snap Inc (NYSE:SNAP)

Hillhouse Capital Advisors LTD. purchased a new stake in Snap Inc (NYSE:SNAP) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 4,465,885 shares of the company’s stock, valued at approximately $63,862,000. Snap makes up 1.4% of Hillhouse Capital Advisors LTD.’s investment portfolio, making the stock its 20th biggest position.

Other hedge funds also recently modified their holdings of the company. Prime Capital Investment Advisors LLC bought a new stake in shares of Snap in the second quarter valued at approximately $27,000. Atlas Capital Advisors LLC bought a new stake in shares of Snap in the second quarter valued at approximately $29,000. Catalyst Capital Advisors LLC boosted its stake in shares of Snap by 38.8% in the second quarter. Catalyst Capital Advisors LLC now owns 2,386 shares of the company’s stock valued at $34,000 after buying an additional 667 shares during the period. Valeo Financial Advisors LLC boosted its stake in shares of Snap by 400.0% in the second quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock valued at $36,000 after buying an additional 2,000 shares during the period. Finally, AlphaOne Investment Services LLC bought a new stake in shares of Snap in the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 26.84% of the company’s stock.

Shares of SNAP stock traded up $0.16 on Friday, reaching $17.04. 31,965,849 shares of the company were exchanged, compared to its average volume of 23,113,798. The company has a market cap of $23.31 billion, a price-to-earnings ratio of -17.57 and a beta of 1.12. The company has a 50-day moving average of $16.19 and a 200-day moving average of $13.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.53 and a quick ratio of 4.53. Snap Inc has a one year low of $4.82 and a one year high of $18.36.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, July 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.02. The company had revenue of $388.02 million for the quarter, compared to analysts’ expectations of $358.16 million. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The business’s revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.14) EPS. As a group, sell-side analysts predict that Snap Inc will post -0.71 EPS for the current year.

In other news, VP Jerry James Hunter sold 12,797 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $15.12, for a total transaction of $193,490.64. Following the transaction, the vice president now owns 1,692,578 shares of the company’s stock, valued at approximately $25,591,779.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Lynton sold 127,663 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $15.04, for a total transaction of $1,920,051.52. Following the transaction, the director now directly owns 68,149 shares in the company, valued at approximately $1,024,960.96. The disclosure for this sale can be found here. Insiders have sold a total of 5,472,570 shares of company stock worth $92,872,757 in the last three months.

Several brokerages have commented on SNAP. Rosenblatt Securities began coverage on shares of Snap in a research report on Tuesday, July 23rd. They set a “buy” rating and a $18.00 price objective for the company. Morgan Stanley upped their price target on shares of Snap from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Deutsche Bank upped their price target on shares of Snap from $13.00 to $16.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Nomura upped their price target on shares of Snap from $10.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $19.00 price objective on shares of Snap in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, twenty have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $15.46.

About Snap

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.

Featured Story: Earnings Reports

Want to see what other hedge funds are holding SNAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap Inc (NYSE:SNAP).

Institutional Ownership by Quarter for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.