IFM Investors Pty Ltd Buys 8,318 Shares of Snap Inc. (NYSE:SNAP)

IFM Investors Pty Ltd lifted its stake in shares of Snap Inc. (NYSE:SNAP) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 206,869 shares of the company’s stock after acquiring an additional 8,318 shares during the quarter. IFM Investors Pty Ltd’s holdings in Snap were worth $2,375,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNAP. GraniteShares Advisors LLC raised its position in shares of Snap by 8.4% during the 1st quarter. GraniteShares Advisors LLC now owns 37,213 shares of the company’s stock valued at $427,000 after purchasing an additional 2,880 shares during the period. Kovack Advisors Inc. increased its stake in Snap by 29.1% in the 1st quarter. Kovack Advisors Inc. now owns 35,085 shares of the company’s stock worth $403,000 after buying an additional 7,900 shares in the last quarter. DMC Group LLC bought a new stake in Snap during the first quarter valued at about $162,000. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Snap in the first quarter valued at about $100,000. Finally, Miracle Mile Advisors LLC lifted its position 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 acquiring an additional 3,000 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Trading Up 27.6 %

NYSE:SNAP traded up $3.15 during mid-day trading on Friday, hitting $14.55. 159,811,902 shares of the stock traded hands, compared to its average volume of 25,544,486. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap Inc. has a 52 week low of $7.86 and a 52 week high of $17.90. The stock has a market capitalization of $24.02 billion, a price-to-earnings ratio of -17.94 and a beta of 1.13. The firm’s 50 day moving average is $11.26 and its two-hundred day moving average is $12.84.

Snap (NYSE:SNAP) last released its earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. On average, equities research analysts predict that Snap Inc. will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNAP. Royal Bank of Canada lifted their target price on Snap from $13.00 to $16.00 and gave the company a “sector perform” rating in a research note on Friday. Truist Financial boosted their target price on shares of Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised shares of Snap from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $19.00 in a research note on Friday, January 26th. Susquehanna lifted their price target on shares of Snap from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Snap from $13.50 to $16.00 and gave the company a “neutral” rating in a report on Friday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.67.

Insider Buying and Selling at Snap

In other news, CAO Rebecca Morrow sold 9,386 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the transaction, the chief accounting officer now directly owns 495,526 shares in the company, valued at $5,520,159.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $11.14, for a total transaction of $104,560.04. Following the completion of the sale, the chief accounting officer now owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Derek Andersen sold 96,953 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the transaction, the chief financial officer now directly owns 2,534,689 shares in the company, valued at approximately $27,856,232.11. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock valued at $5,284,091 in the last quarter. 22.68% of the stock is owned by insiders.

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.