Trexquant Investment LP Acquires 553,504 Shares of Snap Inc. (NYSE:SNAP)

Trexquant Investment LP grew its holdings in Snap Inc. (NYSE:SNAP) by 90.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,164,286 shares of the company’s stock after purchasing an additional 553,504 shares during the period. Trexquant Investment LP’s holdings in Snap were worth $12,539,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Invenomic Capital Management LP acquired a new stake in Snap in the third quarter valued at approximately $2,349,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Snap by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock valued at $71,095,000 after acquiring an additional 389,812 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Snap by 49.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock valued at $28,245,000 after acquiring an additional 879,212 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Snap during the 4th quarter worth $289,000. Finally, Holocene Advisors LP acquired a new position in Snap in the 3rd quarter worth about $3,436,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $11.49, for a total value of $206,820.00. Following the completion of the sale, the general counsel now owns 480,498 shares in the company, valued at $5,520,922.02. This represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 8,837 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $95,793.08. Following the transaction, the chief accounting officer now directly owns 429,892 shares in the company, valued at $4,660,029.28. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,356,523 shares of company stock valued at $12,710,077 over the last ninety days. 22.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SNAP has been the topic of several research reports. Susquehanna boosted their price target on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. JMP Securities reissued a “market outperform” rating and set a $16.00 target price on shares of Snap in a report on Monday, January 27th. BMO Capital Markets restated an “outperform” rating and issued a $16.00 price target (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Bank of America lifted their price target on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $36.80.

Snap Stock Performance

NYSE SNAP opened at $8.86 on Thursday. The company has a market cap of $15.03 billion, a P/E ratio of -21.09 and a beta of 0.92. The company has a fifty day simple moving average of $10.06 and a 200 day simple moving average of $10.80. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.33.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Sell-side analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal 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.