1,200,000 Shares in Snap Inc. $SNAP Purchased by Riposte Capital LLC

Riposte Capital LLC bought a new stake in shares of Snap Inc. (NYSE:SNAP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,200,000 shares of the company’s stock, valued at approximately $5,520,000. Snap accounts for 1.4% of Riposte Capital LLC’s holdings, making the stock its 18th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNAP. Allworth Financial LP grew its position in Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after acquiring an additional 1,581 shares during the last quarter. Oak Harvest Investment Services purchased a new position in Snap in the 4th quarter worth about $26,000. Arax Advisory Partners lifted its holdings in Snap by 220.0% during the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock valued at $27,000 after buying an additional 2,275 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Snap in the 4th quarter worth about $29,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Snap by 561.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after acquiring an additional 3,071 shares during the period. 47.52% of the stock is owned by institutional investors.

Snap Price Performance

Shares of SNAP stock opened at $4.76 on Wednesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 3.53 and a quick ratio of 3.53. The company has a market capitalization of $8.05 billion, a P/E ratio of -19.85 and a beta of 1.05. The company’s 50-day simple moving average is $5.03 and its two-hundred day simple moving average is $5.44. Snap Inc. has a one year low of $3.81 and a one year high of $9.77.

Snap (NYSE:SNAP) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities analysts anticipate that Snap Inc. will post -0.07 EPS for the current year.

Insider Activity at Snap

In other Snap news, insider Ajit Mohan sold 44,785 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.60, for a total value of $250,796.00. Following the completion of the sale, the insider directly owned 5,057,891 shares in the company, valued at $28,324,189.60. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Rebecca Morrow sold 16,729 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.60, for a total value of $93,682.40. Following the completion of the sale, the chief accounting officer directly owned 512,811 shares of the company’s stock, valued at $2,871,741.60. The trade was a 3.16% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 2,868,059 shares of company stock valued at $15,855,631 over the last quarter.

Wall Street Analysts Forecast Growth

SNAP has been the topic of several research analyst reports. BMO Capital Markets increased their price objective on Snap from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. Wells Fargo & Company cut their price target on Snap from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 7th. Rosenblatt Securities reiterated a “neutral” rating and set a $6.40 target price on shares of Snap in a report on Thursday, April 16th. Royal Bank Of Canada reduced their price target on shares of Snap from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Snap from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twenty-five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Snap currently has an average rating of “Hold” and an average price target of $7.23.

Snap Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.