Landscape Capital Management L.L.C. Acquires New Stake in Snap Inc. (NYSE:SNAP)

Landscape Capital Management L.L.C. bought a new position in Snap Inc. (NYSE:SNAP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 222,851 shares of the company’s stock, valued at approximately $2,385,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Snap during the 3rd quarter valued at about $29,000. Paladin Wealth LLC bought a new stake in Snap during the third quarter worth approximately $30,000. Advisors Asset Management Inc. grew its position in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of Snap in the second quarter valued at $33,000. Finally, Blue Trust Inc. lifted its position in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after acquiring an additional 1,682 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Argus upgraded Snap to a “hold” rating in a research report on Thursday, August 8th. Canaccord Genuity Group raised their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price (up from $12.00) on shares of Snap in a research report on Wednesday, October 30th. JMP Securities reduced their price target on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their price objective on shares of Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.31.

Insider Activity at Snap

In other news, CFO Derek Andersen sold 97,608 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the completion of the transaction, the chief financial officer now directly owns 2,287,970 shares in the company, valued at $21,255,241.30. The trade was a 4.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Young sold 112,020 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. The trade was a 3.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,356,709 shares of company stock worth $16,088,487. Insiders own 22.68% of the company’s stock.

Snap Trading Up 0.2 %

NYSE:SNAP opened at $10.62 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. Snap Inc. has a one year low of $8.29 and a one year high of $17.90. The company has a market cap of $17.81 billion, a PE ratio of -18.30 and a beta of 0.99. The firm has a 50-day moving average of $10.79 and a 200-day moving average of $12.55.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.21) EPS. As a group, equities research analysts expect that Snap Inc. will post -0.41 EPS 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.