JW Asset Management LLC Takes $2.88 Million Position in Snap Inc. (NYSE:SNAP)

JW Asset Management LLC purchased a new position in Snap Inc. (NYSE:SNAP) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 170,000 shares of the company’s stock, valued at approximately $2,878,000. Snap comprises approximately 1.6% of JW Asset Management LLC’s holdings, making the stock its 11th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Snap by 1.5% during the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after purchasing an additional 1,352,655 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Snap by 4.1% during the third quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock worth $73,666,000 after purchasing an additional 327,038 shares during the period. Northern Trust Corp lifted its holdings in Snap by 0.3% in the third quarter. Northern Trust Corp now owns 4,091,981 shares of the company’s stock valued at $36,460,000 after acquiring an additional 10,583 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Snap by 7.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,444,341 shares of the company’s stock valued at $58,313,000 after acquiring an additional 230,815 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Snap by 60.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,381,578 shares of the company’s stock valued at $21,220,000 after acquiring an additional 892,996 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 59,641 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $656,051.00. Following the transaction, the general counsel now owns 1,267,193 shares of the company’s stock, valued at approximately $13,939,123. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Michael J. O’sullivan sold 59,641 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.00, for a total transaction of $656,051.00. Following the transaction, the general counsel now owns 1,267,193 shares of the company’s stock, valued at approximately $13,939,123. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 2,442 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the transaction, the chief accounting officer now directly owns 493,084 shares in the company, valued at approximately $5,423,924. The disclosure for this sale can be found here. Insiders have sold a total of 1,509,829 shares of company stock valued at $21,263,829 in the last quarter. Insiders own 22.68% of the company’s stock.

Analyst Ratings Changes

SNAP has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Snap from $13.50 to $16.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Evercore ISI boosted their price target on Snap from $13.00 to $14.00 and gave the company an “in-line” rating in a report on Friday, April 26th. Rosenblatt Securities boosted their price target on Snap from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Susquehanna boosted their price target on Snap from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Finally, Truist Financial boosted their price target on Snap from $12.00 to $16.00 and gave the company a “hold” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus price target of $14.79.

Snap Trading Up 0.3 %

NYSE:SNAP traded up $0.04 during trading hours on Friday, hitting $15.23. The company had a trading volume of 9,973,296 shares, compared to its average volume of 31,132,070. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 1.55. The company has a 50-day moving average of $13.06 and a 200 day moving average of $13.69. The company has a market cap of $24.98 billion, a P/E ratio of -18.75 and a beta of 1.02. Snap Inc. has a 1 year low of $8.28 and a 1 year high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Sell-side analysts expect that Snap Inc. will post -0.44 earnings per share for the current year.

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.