Discovery Capital Management LLC CT Sells 2,700 Shares of Snap Inc. (NYSE:SNAP)

Discovery Capital Management LLC CT lowered its stake in shares of Snap Inc. (NYSE:SNAP) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,353,100 shares of the company’s stock after selling 2,700 shares during the quarter. Discovery Capital Management LLC CT’s holdings in Snap were worth $14,573,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. bought a new stake in shares of Snap in the fourth quarter valued at about $27,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Snap in the fourth quarter valued at approximately $32,000. Blue Trust Inc. lifted its holdings in shares of Snap by 128.0% during the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after buying an additional 2,453 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in Snap during the fourth quarter worth about $54,000. Finally, V Square Quantitative Management LLC raised its stake in Snap by 213.3% in the 4th quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company’s stock worth $91,000 after purchasing an additional 5,704 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Stock Performance

Shares of SNAP stock opened at $8.71 on Tuesday. The firm’s 50 day moving average price is $10.12 and its 200-day moving average price is $10.82. Snap Inc. has a one year low of $8.29 and a one year high of $17.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The firm has a market cap of $14.77 billion, a P/E ratio of -20.73 and a beta of 0.92.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 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%. As a group, equities research analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Insider Activity at Snap

In other Snap news, CFO Derek Andersen sold 61,334 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $664,860.56. Following the transaction, the chief financial officer now directly owns 3,564,235 shares of the company’s stock, valued at approximately $38,636,307.40. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Eric Young sold 102,152 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $1,107,327.68. Following the sale, the senior vice president now directly owns 3,443,419 shares of the company’s stock, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,332,523 shares of company stock valued at $12,503,677 over the last ninety days. Insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

SNAP has been the topic of a number of research analyst reports. Guggenheim lowered Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 target price (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. Citigroup increased their price objective on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Bank of America increased their price target on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Barclays reiterated an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.80.

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.