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

Discovery Capital Management LLC CT trimmed its position in shares of Snap Inc. (NYSE:SNAP) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,353,100 shares of the company’s stock after selling 2,700 shares during the quarter. Discovery Capital Management LLC CT owned 0.08% of Snap worth $14,573,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Trexquant Investment LP grew its position in shares of Snap by 90.6% in the 4th quarter. Trexquant Investment LP now owns 1,164,286 shares of the company’s stock valued at $12,539,000 after acquiring an additional 553,504 shares during the period. Geode Capital Management LLC raised its holdings in Snap by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock valued at $127,078,000 after buying an additional 134,017 shares during the last quarter. National Bank of Canada FI lifted its holdings in Snap by 32.2% during the 4th quarter. National Bank of Canada FI now owns 20,302 shares of the company’s stock worth $219,000 after buying an additional 4,944 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Snap in the fourth quarter valued at approximately $21,639,000. Finally, Allstate Corp bought a new position in Snap during the fourth quarter worth $334,000. 47.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snap

In other Snap news, CFO Derek Andersen sold 22,720 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.58, for a total value of $194,937.60. Following the sale, the chief financial officer now directly owns 3,541,515 shares in the company, valued at approximately $30,386,198.70. The trade was a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eric Young sold 102,152 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the transaction, the senior vice president now directly owns 3,443,419 shares of the company’s stock, valued at $37,326,661.96. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,332,523 shares of company stock valued at $12,503,677 over the last three months. 22.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SNAP shares. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Snap in a report on Thursday, December 5th. Wells Fargo & Company cut their target price on Snap from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday. Citizens Jmp upgraded shares of Snap from a “hold” rating to a “strong-buy” rating in a report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 price target (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Finally, Guggenheim lowered shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Snap has an average rating of “Hold” and a consensus target price of $36.80.

Snap Price Performance

SNAP stock opened at $8.71 on Tuesday. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $14.77 billion, a P/E ratio of -20.73 and a beta of 0.92. The business has a 50 day simple moving average of $10.12 and a 200-day simple moving average of $10.82.

Snap (NYSE:SNAP) last posted its quarterly earnings results 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%. As a group, equities analysts anticipate that Snap Inc. will post -0.3 EPS for the current 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.