Connor Clark & Lunn Investment Management Ltd. Has $14.23 Million Holdings in Snap Inc. $SNAP

by · The Markets Daily

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Snap Inc. (NYSE:SNAP – Free Report) by 47.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,637,214 shares of the company’s stock after selling 1,449,291 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Snap worth $14,227,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNAP. Signaturefd LLC boosted its position in Snap by 169.9% during the second quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock worth $26,000 after purchasing an additional 1,852 shares during the period. Quarry LP bought a new position in shares of Snap in the first quarter valued at approximately $34,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Snap in the first quarter worth $35,000. Wealth Preservation Advisors LLC bought a new stake in shares of Snap during the 1st quarter worth $44,000. Finally, S Bank Fund Management Ltd bought a new stake in shares of Snap during the 1st quarter worth $53,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNAP. Piper Sandler lifted their target price on shares of Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Citigroup downgraded Snap from an “outperform” rating to a “negative” rating in a research report on Tuesday, July 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a research report on Wednesday, October 8th. JMP Securities reaffirmed a “market perform” rating on shares of Snap in a report on Wednesday, August 6th. Finally, Bank of America dropped their price target on Snap from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Snap has an average rating of “Hold” and an average price target of $34.98.

View Our Latest Stock Report on Snap

Snap Stock Up 6.0%

SNAP stock opened at $8.70 on Tuesday. Snap Inc. has a twelve month low of $6.90 and a twelve month high of $13.28. The company has a market cap of $14.70 billion, a PE ratio of -30.00 and a beta of 0.89. The business’s 50-day simple moving average is $7.87 and its 200 day simple moving average is $8.26. The company has a quick ratio of 3.67, a current ratio of 3.67 and a debt-to-equity ratio of 1.57.

Snap (NYSE:SNAP – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the company earned ($0.09) EPS. The company’s revenue was up 9.8% on a year-over-year basis. Snap has set its Q4 2025 guidance at EPS. On average, research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Activity at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 68,705 shares of Snap stock in a transaction on Monday, August 18th. The stock was sold at an average price of $7.18, for a total transaction of $493,301.90. Following the completion of the transaction, the general counsel directly owned 2,015,624 shares of the company’s stock, valued at approximately $14,472,180.32. This trade represents a 3.30% 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 link. Also, CFO Derek Andersen sold 60,966 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $7.17, for a total value of $437,126.22. Following the sale, the chief financial officer directly owned 3,143,452 shares of the company’s stock, valued at $22,538,550.84. This represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 510,569 shares of company stock worth $3,741,723.

Snap Profile

(Free Report)

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.

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