Teachers Retirement System of The State of Kentucky Makes New $7.93 Million Investment in Snap Inc. (NYSE:SNAP)

Teachers Retirement System of The State of Kentucky bought a new position in shares of Snap Inc. (NYSE:SNAP – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 807,032 shares of the company’s stock, valued at approximately $7,925,000.

Other institutional investors also recently bought and sold shares of the company. Boit C F David purchased a new position in Snap during the third quarter worth about $34,000. SRS Capital Advisors Inc. raised its stake in shares of Snap by 382.7% in the 2nd quarter. SRS Capital Advisors Inc. now owns 5,146 shares of the company’s stock valued at $68,000 after acquiring an additional 4,080 shares during the period. Natixis Investment Managers International raised its stake in shares of Snap by 19.8% in the 2nd quarter. Natixis Investment Managers International now owns 5,437 shares of the company’s stock valued at $71,000 after acquiring an additional 898 shares during the period. PFG Private Wealth Management LLC raised its stake in shares of Snap by 72.8% in the 3rd quarter. PFG Private Wealth Management LLC now owns 7,835 shares of the company’s stock valued at $77,000 after acquiring an additional 3,300 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Snap by 25.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 8,590 shares of the company’s stock valued at $84,000 after acquiring an additional 1,747 shares during the period. 43.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNAP has been the topic of a number of research analyst reports. Canaccord Genuity Group reduced their price target on shares of Snap from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, February 1st. Jefferies Financial Group downgraded shares of Snap from a “buy” rating to a “hold” rating and reduced their price target for the company from $12.00 to $10.00 in a research note on Thursday, December 15th. Benchmark downgraded shares of Snap from a “buy” rating to a “hold” rating in a research note on Wednesday, February 1st. Rosenblatt Securities restated a “neutral” rating and issued a $10.00 price objective on shares of Snap in a report on Friday, February 17th. Finally, Susquehanna lifted their price objective on shares of Snap from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, February 1st. Three equities research analysts have rated the stock with a sell rating, twenty-nine have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and an average target price of $13.71.

Snap Trading Down 3.5 %

Shares of Snap stock opened at $10.70 on Friday. The company has a fifty day simple moving average of $10.47 and a 200-day simple moving average of $10.25. Snap Inc. has a 12-month low of $7.33 and a 12-month high of $39.80. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 1.45. The stock has a market cap of $16.92 billion, a price-to-earnings ratio of -12.16 and a beta of 1.20.

Snap (NYSE:SNAP – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. Snap had a negative net margin of 31.07% and a negative return on equity of 33.20%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. On average, equities analysts forecast that Snap Inc. will post -0.73 EPS for the current fiscal year.

Insider Activity at Snap

In related news, CTO Robert C. Murphy sold 900,000 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $10.90, for a total value of $9,810,000.00. Following the completion of the sale, the chief technology officer now owns 71,477,238 shares in the company, valued at approximately $779,101,894.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Rebecca Morrow sold 6,717 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $9.46, for a total transaction of $63,542.82. Following the transaction, the chief accounting officer now directly owns 259,245 shares of the company’s stock, valued at approximately $2,452,457.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Robert C. Murphy sold 900,000 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $10.90, for a total value of $9,810,000.00. Following the completion of the sale, the chief technology officer now directly owns 71,477,238 shares in the company, valued at approximately $779,101,894.20. The disclosure for this sale can be found here. Insiders sold a total of 1,126,790 shares of company stock worth $12,282,802 in the last 90 days. 22.68% of the stock is owned by insiders.

Snap Profile

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Snap, Inc operates as a camera company. Its flagship product, Snapchat, is a camera application that helps people communicate visually with friends and family through short videos and images called Snaps. The firm’s primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C.