Magnetar Financial LLC Invests $1.30 Million in Snap Inc. (NYSE:SNAP)

Magnetar Financial LLC bought a new position in shares of Snap Inc. (NYSE:SNAP) during the 4th quarter, HoldingsChannel reports. The fund bought 120,254 shares of the company’s stock, valued at approximately $1,295,000.

Several other large investors also recently modified their holdings of SNAP. Charles Schwab Investment Management Inc. grew its holdings in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after purchasing an additional 2,386,519 shares in the last quarter. Groupama Asset Managment acquired a new stake in shares of Snap during the 3rd quarter worth $13,032,000. Assenagon Asset Management S.A. grew its holdings in shares of Snap by 51.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock worth $33,244,000 after purchasing an additional 1,050,501 shares in the last quarter. Senvest Management LLC acquired a new stake in shares of Snap during the 3rd quarter worth $10,064,000. Finally, Jacobs Levy Equity Management Inc. lifted its position 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 worth $28,245,000 after buying an additional 879,212 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Price Performance

Shares of SNAP opened at $9.24 on Friday. The business has a 50-day moving average of $10.44 and a 200-day moving average of $10.77. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33. The company has a market capitalization of $15.67 billion, a price-to-earnings ratio of -21.99 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, equities research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In other Snap news, CFO Derek Andersen sold 22,720 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.58, for a total value of $194,937.60. Following the completion of the sale, the chief financial officer now owns 3,541,515 shares of the company’s stock, valued at approximately $30,386,198.70. This trade represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 14,183 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $8.83, for a total value of $125,235.89. Following the completion of the sale, the general counsel now directly owns 2,256,101 shares of the company’s stock, valued at $19,921,371.83. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,350,523 shares of company stock valued at $12,698,797 over the last 90 days. Company insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, February 5th. Citigroup upped their price objective on Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. JMP Securities restated a “market outperform” rating and set a $16.00 price objective on shares of Snap in a research report on Monday, January 27th. Susquehanna upped their price objective on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Citizens Jmp downgraded Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Snap presently has an average rating of “Hold” and an average price target of $36.87.

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.