31,015 Shares in Snap Inc. (NYSE:SNAP) Bought by Allstate Corp

Allstate Corp acquired a new stake in Snap Inc. (NYSE:SNAP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,015 shares of the company's stock, valued at approximately $334,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new position in shares of Snap in the 4th quarter worth approximately $30,162,000. Groupama Asset Managment acquired a new position in Snap in the third quarter valued at $13,032,000. Assenagon Asset Management S.A. boosted its position in Snap by 51.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company's stock valued at $33,244,000 after acquiring an additional 1,050,501 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Snap by 49.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company's stock worth $28,245,000 after acquiring an additional 879,212 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Snap in the 4th quarter worth about $7,614,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on SNAP. Susquehanna upped their target price on Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Bank of America increased their price target on Snap from $14.00 to $14.50 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Wells Fargo & Company lowered their price objective on shares of Snap from $11.00 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, March 31st. JMP Securities reissued a "market outperform" rating and set a $16.00 target price on shares of Snap in a research note on Monday, January 27th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Snap in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Snap has a consensus rating of "Hold" and a consensus target price of $36.80.

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Insiders Place Their Bets

In other news, General Counsel Michael J. O'sullivan sold 24,000 shares of Snap stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $8.60, for a total value of $206,400.00. Following the completion of the transaction, the general counsel now owns 507,660 shares in the company, valued at $4,365,876. This trade represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Derek Andersen sold 33,618 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $296,846.94. Following the sale, the chief financial officer now directly owns 3,507,897 shares in the company, valued at $30,974,730.51. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,356,523 shares of company stock valued at $12,710,077 over the last ninety days. 22.68% of the stock is currently owned by insiders.

Snap Stock Performance

Shares of NYSE SNAP traded up $0.04 during mid-day trading on Friday, reaching $8.06. 48,608,525 shares of the company's stock were exchanged, compared to its average volume of 27,544,906. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of -19.18 and a beta of 0.92. The firm has a 50-day moving average price of $9.95 and a two-hundred day moving average price of $10.77. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap Inc. has a 52 week low of $7.66 and a 52 week high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Snap Company Profile

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.