Assenagon Asset Management S.A. Grows Position in Snap Inc. (NYSE:SNAP)

Assenagon Asset Management S.A. raised its position in shares of Snap Inc. (NYSE:SNAP) by 51.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,086,741 shares of the company’s stock after acquiring an additional 1,050,501 shares during the period. Assenagon Asset Management S.A. owned approximately 0.18% of Snap worth $33,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP raised its stake in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after purchasing an additional 12,533,653 shares in the last quarter. TB Alternative Assets Ltd. increased its holdings in shares of Snap by 105.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after buying an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 valued at $66,462,000 after buying an additional 2,386,519 shares in the last quarter. Discovery Capital Management LLC CT bought a new position in shares of Snap in the 2nd quarter valued at about $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Snap by 49.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after acquiring an additional 1,297,348 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap Price Performance

Shares of SNAP opened at $11.23 on Friday. The company has a 50 day moving average of $11.55 and a two-hundred day moving average of $11.40. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.50. The company has a market cap of $18.83 billion, a price-to-earnings ratio of -19.35 and a beta of 0.98.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the business earned ($0.21) EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, analysts predict that Snap Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Derek Andersen sold 94,164 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the transaction, the chief financial officer now directly owns 2,193,806 shares of the company’s stock, valued at approximately $25,097,140.64. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eric Young sold 112,020 shares of Snap stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $1,181,811.00. Following the sale, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,451,618 shares of company stock worth $17,560,157 over the last 90 days.

Analyst Upgrades and Downgrades

SNAP has been the topic of a number of recent research reports. UBS Group upped their price objective on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their target price on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Bank of America lifted their price target on shares of Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Guggenheim reissued a “buy” rating and issued a $12.11 price objective on shares of Snap in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.99.

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.