TB Alternative Assets Ltd. Has $85.41 Million Position in Snap Inc. (NYSE:SNAP)

TB Alternative Assets Ltd. lifted its holdings in Snap Inc. (NYSE:SNAP) by 105.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,981,847 shares of the company’s stock after purchasing an additional 4,098,847 shares during the period. Snap comprises 20.3% of TB Alternative Assets Ltd.’s holdings, making the stock its biggest holding. TB Alternative Assets Ltd.’s holdings in Snap were worth $85,406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNAP. B. Riley Wealth Advisors Inc. increased its stake in Snap by 6.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock worth $333,000 after purchasing an additional 1,232 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Snap during the 1st quarter worth approximately $129,000. Arkfeld Wealth Strategies L.L.C. acquired a new stake in Snap during the 1st quarter valued at $113,000. SteelPeak Wealth LLC lifted its holdings in shares of Snap by 50.9% in the first quarter. SteelPeak Wealth LLC now owns 84,513 shares of the company’s stock valued at $970,000 after purchasing an additional 28,523 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its holdings in shares of Snap by 16.1% in the first quarter. Miracle Mile Advisors LLC now owns 21,658 shares of the company’s stock valued at $249,000 after purchasing an additional 3,000 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total transaction of $239,040.00. Following the transaction, the general counsel now owns 463,908 shares in the company, valued at approximately $6,160,698.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total transaction of $239,040.00. Following the sale, the general counsel now owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the transaction, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,510,352 shares of company stock worth $13,446,353 in the last ninety days. 22.68% of the stock is currently owned by insiders.

Snap Price Performance

NYSE SNAP opened at $10.49 on Monday. The stock has a 50-day simple moving average of $9.83 and a 200 day simple moving average of $12.72. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.90. The stock has a market capitalization of $17.21 billion, a PE ratio of -12.95 and a beta of 1.01. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Research analysts anticipate that Snap Inc. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SNAP. B. Riley assumed coverage on Snap in a research report on Friday, September 20th. They set a “neutral” rating and a $11.00 price target on the stock. Truist Financial dropped their target price on Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Bank of America decreased their price target on shares of Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Piper Sandler reiterated a “neutral” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Snap in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Snap presently has a consensus rating of “Hold” and an average target price of $13.77.

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.