Militia Capital Partners LP Sells 748,010 Shares of Snap Inc. $SNAP

Militia Capital Partners LP decreased its holdings in shares of Snap Inc. (NYSE:SNAP) by 83.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 149,190 shares of the company’s stock after selling 748,010 shares during the period. Militia Capital Partners LP’s holdings in Snap were worth $1,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Korea Investment CORP increased its stake in shares of Snap by 573.6% during the third quarter. Korea Investment CORP now owns 967,544 shares of the company’s stock valued at $7,460,000 after purchasing an additional 823,900 shares in the last quarter. Contrarius Group Holdings Ltd bought a new position in shares of Snap during the third quarter valued at approximately $10,256,000. DNB Asset Management AS increased its stake in shares of Snap by 433.6% during the third quarter. DNB Asset Management AS now owns 1,042,873 shares of the company’s stock valued at $8,041,000 after purchasing an additional 847,447 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of Snap by 54.4% during the third quarter. Quantbot Technologies LP now owns 749,724 shares of the company’s stock valued at $5,780,000 after purchasing an additional 264,156 shares in the last quarter. Finally, Ausdal Financial Partners Inc. increased its stake in shares of Snap by 76.3% during the third quarter. Ausdal Financial Partners Inc. now owns 628,109 shares of the company’s stock valued at $4,843,000 after purchasing an additional 271,893 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling

In related news, CAO Rebecca Morrow sold 16,729 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 $93,682.40. Following the sale, the chief accounting officer owned 512,811 shares in the company, valued at approximately $2,871,741.60. This trade represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Zachary M. Briers sold 11,958 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $6.00, for a total transaction of $71,748.00. Following the completion of the sale, the general counsel owned 2,560,835 shares in the company, valued at $15,365,010. This represents a 0.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,900,631 shares of company stock valued at $16,054,989 in the last ninety days.

Snap Price Performance

Shares of SNAP opened at $5.13 on Wednesday. Snap Inc. has a twelve month low of $3.81 and a twelve month high of $10.41. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.67. The firm has a 50 day moving average of $5.64 and a 200 day moving average of $6.12. The company has a market capitalization of $8.66 billion, a P/E ratio of -21.36 and a beta of 1.03.

Snap (NYSE:SNAP) last issued its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (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 company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the business posted ($0.08) EPS. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Snap Inc. will post -0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNAP. Rothschild & Co Redburn raised shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Monday, April 27th. Barclays raised shares of Snap from an “overweight” rating to an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a research report on Monday, April 20th. Rosenblatt Securities reissued a “neutral” rating and set a $6.40 price target on shares of Snap in a research report on Thursday, April 16th. Finally, HSBC downgraded shares of Snap from a “hold” rating to a “hold” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Snap currently has an average rating of “Hold” and a consensus target price of $7.91.

About Snap

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.